Haw. Rev. Stat. § 103D-314
Approval of accounting system
Hawaii · Hawaii Revised Statutes Chapter 103D — Hawaii Public Procurement Code · Status: effective
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- Citation
- Haw. Rev. Stat. § 103D-314, Approval of accounting system, Hawaii, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2397151
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Full text
Except with respect to firm fixed-price contracts, no contract shall be used unless it has been determined in writing by the chief procurement officer, the head of a purchasing agency, or a designee of either officer that:
(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated; and
(2) The proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.