About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

094429 1 (1971-04-29)

handle is hein.gao/gaobadxko0001 and id is 1 raw text is: 







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

                                                  FOR RELEASE ON DELIVERY
                                                  Expected at 10:00 am. EDT
                                                  April 29, 1971


                                  STATEMENT OF
            ELMER B. STAATS, COMPTROLLER GENERAL OF THE UNITED STATES
                                   BEFORE THE
              SsUcoR  T  ON PRIORITIES AND ECONOMY IN GOVERNMENT
              SJOINT ECONOMIC COMMITTEE


N /    Mr. Chairman and Members of the Committee:
/
            I am pleased to appear before this Subcommittee today. My

       statement deals primarily with reports we have recently made

       concerningacquisition of major weapons systems,) the feasibility

       of making should cost reviews in auditing and pricing of

       negotiated contracts, a congressionally-directed study of profits

       earned on defense contracts, and a related GAO initiated study of

       the return on capital of a selected group of individual contracts.

       This latter study was designed to determine the feasibility of allocat-

       ing capital to individual contracts and to determine the range of return

       on capital employed in individual contracts.

            We have also included attachments updating work which we have

       done relative to the Truth-.in-Negotiations Act (P.L. 87-653) and the

       use of Government-furnished equipment by defense contractors. Both

       have been subjects of previous hearings by this Committee.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most