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091287 1 (1972-02-28)

handle is hein.gao/gaobadxig0001 and id is 1 raw text is: F ED STATEMENT OF ELMER B. STAATS, COMPTROLLER GENERAL OF THE UNITED STATES BEFORE THE LEGISLATIVE SUBCOMIMITTEE, APPROPRIATIONS COMMITTEE UNITED STATES SENATEIIIIIIIIIIIIIIIIUIIIIIIIIIIIIII COST ACCOUNTING STANDARDS BOARD LM091287 BUDGET ESTIMATES FOR FISCAL YEAR 1973 MR. CHAIRMAN AND MEMBERS OF THE SUBCOMMITTEE: I am appearing before you today in the capacity of Chairman of the Cost Accounting Standards Board to discuss the budget estimates for Board operations during Fiscal Year 1973. Before getting into our budget justification, I would like to outline just briefly the background of how the Board came to be established and how we have organized to carry out our job. This was outlined in some detail last year, but a brief statement at this point would perhaps be useful. In 1968, when the Congress was considering extension of the Defense Production Act of 1950, testimony was given critical of the manner in which Government procurement was being accomplished, particularly negotiated procurements/. As a result of this testimony, an amendment was made to the bill which provided that the Comptroller General, in cooperation with the Secretary of Defense and the Director of the Bureau of the Budget, shall: * undertake a study to determine-the feasibility of applying uniform cost accounting standards to be used in all negotiated prime contract and subcontract defense procurements of $100,000 or more.

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