HRS §103D-314
Approval of accounting system
Read the official text at capitol.hawaii.gov ↗For most contracts, the government must check the contractor's accounting system in writing before using the contract. The system must be able to produce cost data on time and follow standard accounting rules. This does not apply to fixed-price contracts.
contractorscourts
The statute, as written — Approval of accounting system
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
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. [L Sp 1993, c 8, pt of §2]
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.