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Congress Hammers TSA Exemption From FAR

Client Alert | less than 1 min read | 08.20.07

In hearings on August 1 before the House Homeland Security Subcommittee on Management, Investigations, and Oversight, David Bodenheimer testified that the Transportation Security Administration (TSA) should be stripped of its exemptions from the Competition in Contracting Act (CICA) and Federal Acquisition Regulation (FAR) in order to bolster competition, reduce regulatory fragmentation, and open TSA procurements to protests and Contract Disputes Act litigation applicable to other agencies. On the next day, the House introduced a bill that, in conjunction with a pending Senate amendment, would bring TSA back into the acquisition mainstream.

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Client Alert | 1 min read | 07.08.26

CAS Board Publishes Final Rule Rescinding CAS 404, 408, 409, and 4117

As part of its ongoing effort to conform the Cost Accounting Standards (“CAS”) to generally accepted accounting principles (“GAAP”), the CAS Board published a final rule rescinding CAS 408 (Accounting for costs of compensated personal absence) and CAS 411 (Accounting for acquisition costs of material).  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which will be located in new paragraphs of CAS 405 (Accounting for unallowable costs).  Specifically, the CAS Board retained the requirements currently located at CAS 404-50(d)(1), CAS 409-50(e)(5), CAS 409-50(j)(1), and CAS 409-50(j)(4), which the CAS Board explained are necessary to protect the Government’s interests.  Otherwise, the CAS Board determined that the requirements of CAS 404, 408, 409, and 411 overlapped with GAAP such that GAAP “may be applied reasonably as a substitute for CAS to support contract cost and pricing.”...

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