There is a debate between parties if the confidence level should be documented as 97% or 100%. Which is correct?
The context of your question is accountable Government Furnished Equipment (GFE) provided under or in support of a contract. The contractor is required to maintain cognizance of the status of such equipment. Consistent with Government standards, the contractor conducts audits to assure compliance. In the situation you suggest with an overall population less 25 items, policy dictates that the audit include all the items. In this case, one does achieve complete knowledge of the population (100%) in order to comply with the 97% plan.
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Hopefully this response is helpful. It is important to remember that the specifics under the particular contract, an effective relationship between the Government Contracting Officer’s Representative (COR), Defense Contract Management Agency (DCMA), the Government Contracting Officer and Industry counterparts which stresses effective, timely, open communication is vital.