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119115 1 (1982-08-04)

handle is hein.gao/gaobacsws0001 and id is 1 raw text is: 




         UNITED STATES GENERAL ACCOUNTING OFFICE
                Washington, D.C.   20548


                                      FOR RELEASE ON DELIVERY
                                      EXPECTED AT 10:00 a.m. EST
                                      AUGUST 4, 1982


                       STATEMENT OF

               DONALD J. HORAN, DIRECTOR
                                                            119115
      PROCUREMENT, LOGISTICS, AND READINESS DIVISION

                        BEFORE THE

   SUBCOMMITTEE ON GENERAL OVERSIGHT AND RENEGOTIATION

   OF THE BANKING,  FINANCE AND URBAN AFFAIRS COMMITTEE

         UNITED STATES HOUSE OF REPRESENTATIVES


Mr. Chairman  and Members of the Subcommittee:

     We are pleased to be here today at the request of the

Subcommittee to present the General Accounting Office's views on

the proposed legislation to revise and reinstate the Renegotiation

Act of 19514  As you know, we have had a long and continuing

interest in the renegotiation process because of our involvement

in audits of the procurement activities of the Federal departments

and agencies.

     In testimony before this Subcommittee in June 1975 we outlined

and discussed the findings and recommendations of our study of the

operations and activities of the Renegotiation Board. We also

testified before this subcommittee in March of 1977 in support of

HR 4082, a bill to revise and extend the Renegotiation Act.

     We have reviewed H.R. 5651 and want to express our continued

support for legislation that would help ensure that defense

contractors do not realize excessive profits.


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