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10 U.S.C. § 240f — Audits: selection of service providers for audit services
Federal law — U.S. Code and appendices · legal_authorities
The Department of Defense shall select service providers for auditing services based on the best value to the Department, as determined by the resource sponsor for an auditing contract, rather than based on the lowest price technically acceptable service provider.
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Source file: Laws/federal/codes/united-states-code/title-10/section-240f-audits-selection-of-service-providers-for-audit-services--fc603fd5bd.md
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Source location: Title 10, Chapter 9A, § 240f; chapter-9a-audit.md
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The Department of Defense shall select service providers for auditing services based on the best value to the Department, as determined by the resource sponsor for an auditing contract, rather than based on the lowest price technically acceptable service provider.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Prior Provisions
A prior section 2331 was renumbered [section 2350 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section2350&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 10 U.S.C. § 2331
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) 11 So in original. No par. (2) has been enacted Except as provided in subsection (e), not later than March 1 of 2003 and each year thereafter, the head of each covered executive agency shall prepare and submit to the Congress and the Director of the Office of Management and Budget an audited financial statement for the preceding fiscal year, covering all accounts and associated activities of each office, bureau, and activity of the agency.
**(b)** Each audited financial statement of a covered executive agency under this section shall reflect—
(1) the overall financial position of the offices, bureaus, and activities covered by the statement, including assets and liabilities thereof; and
(2) results of operations of those offices, bureaus, and activities.
**(c)** The Director of the Office of Management and Budget shall identify components of covered executive agencies that shall be required to have audited financial statements meeting the requirements of subsection (b).
**(d)** The Director of the Office of Management and Budget shall prescribe the form and content of the financial statements of covered executive agencies under this section, consistent with applicable accounting and financial reporting principles, standards, and requirements.
**(e)**
(1) The Director of the Office of Management and Budget may exempt a covered executive agency, except an agency described in section 901(b), from the requirements of this section with respect to a fiscal year if—
(A) the total amount of budget authority available to the agency for the fiscal year does not exceed $25,000,000; and
(B) the Director determines that requiring an annual audited financial statement for the agency with respect to the fiscal year is not warranted due to the absence of risks
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 3515
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Federal law — U.S. Code and appendices · legal_authorities
Page 334
TITLE 10—ARMED FORCES
§ 240f
§ 240f. Audits: selection of service providers for
audit services
The Department of Defense shall select service
providers for auditing services based on the best
value to the Department, as determined by the
resource sponsor for an auditing contract, rath-
er than based on the lowest price technically ac-
ceptable service provider.
(Added and amended Pub. L. 115–91, div. A, title
X, § 1002(g)(1), (2), Dec. 12, 2017, 131 Stat. 1542,
§ 254b; renumbered § 240f, Pub. L. 115–232, div. A,
title X, § 1002(a)(1)(A), Aug. 13, 2018, 132 Stat.
1945.)
Editorial Notes
CODIFICATION
Text of section, as added by Pub. L. 115–91, is based
on text of section 892 of Pub. L. 114–328, div. A, title
VIII, Dec. 23, 2016, 130 Stat. 2324, which was formerly set
out as a note under section 2331 of this title, prior to
repeal by Pub. L. 115–91, div. A, title X, § 1002(g)(3), Dec.
12, 2017, 131 Stat. 1542.
AMENDMENTS
2018—Pub. L. 115–232 renumbered section 254b of this
title as this section.
2017—Pub. L. 115–91, § 1002(g)(2), struck out ‘‘and audit
readiness services’’ after ‘‘auditing services’’.
Statutory Notes and Related Subsidiaries
NOTIFICATION REQUIREMENT FOR CERTAIN CONTRACTS
FOR AUDIT SERVICES
Pub. L. 115–91, div. A, title X, § 1007, Dec. 12, 2017, 131
Stat. 1545, provided that:
‘‘(a) NOTIFICATION TO CONGRESS.—If the Under Sec-
retary of Defense (Comptroller) makes a written find-
ing that a delay in performance of a covered contract
while a protest is pending would hinder the annual
preparation of audited financial statements for the De-
partment of Defense, and the head of the procuring ac-
tivity responsible for the award of the covered contract
does not authorize the award of the contract (pursuant
to section 3553(c
Source: Supplied 2024 U.S. Code historical extraction · 10 U.S.C. § 240f
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.