On September 14, 2016, the FAR Council issued a proposed rule to increase the dollar threshold requirement for the audit of prime contract settlement proposals and subcontract settlements. Currently, FAR §49.107 (Audit of prime contract settlement proposals and subcontract settlements) provides that the dollar threshold requirement for the audit of prime contract and subcontract settlements submitted in the event of contract termination is $100,000. Under the proposed rule, this threshold would increase from $100,000 to $750,000, which is the dollar threshold for obtaining certified cost or pricing data under FAR §15.403-4 (Requiring certified cost or pricing data). The FAR Council believes this change will alleviate contract close-out backlogs and allow contracting officers to more quickly release excess funds from terminated contracts. Interested parties should submit written comments on or before November 14, 2016. (81 Fed. Reg. 63,158, 09/14/16)