Common use of FINAL INCURRED COST AUDIT Clause in Contracts

FINAL INCURRED COST AUDIT. In accordance with 10 CFR 600, DOE reserves the right to initiate a final incurred cost audit on this award. If the audit has not been performed or completed prior to the closeout of the award, DOE retains the right to recover an appropriate amount after fully considering the recommendations on disallowed costs resulting from the final audit.

FINAL INCURRED COST AUDIT. In accordance with 10 CFR 600, DOE reserves the right to initiate a final incurred cost audit on this award, provided that such audit, if performed, will be limited as appropriate based on an agreed assumed annual cost escalation for composite labor categories at 3.1% and an overhead rate of 122.9% (without escalation), in lieu of actual labor rate costs. If the audit has not been performed or completed prior to the closeout of the award, DOE retains the right to recover an appropriate amount after fully considering the recommendations on disallowed costs resulting from the final audit.