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NIST Announces Plan for Federal Engagement in Artificial Intelligence

Client Alert | 1 min read | 09.20.19

On August 9, 2019, the National Institute of Standards and Technology (NIST) released “U.S. Leadership in AI: A Plan for Federal Engagement in Developing Technical Standards and Related Tools” (the Plan) in response to Executive Order 13859 (EO), as reported on here. In accordance with the EO, the Plan outlines the following priorities for federal engagement: (1) ensure technical standards minimize vulnerability to attacks from malicious actors; (2) reflect federal priorities for innovation, public trust, and public confidence in systems that use artificial intelligence (AI) technologies; and (3) develop international standards to promote and protect those priorities. With emphasis from both public and private sector, NIST calls for flexible AI standards in regulatory and procurement actions, as well as the prioritization of multidisciplinary research and expansive public-private partnerships. Based on the Plan, companies are likely to see an increased number of opportunities to participate and assist the Federal Government in the standard development process, while simultaneously being put on notice that standards in this burgeoning industry may be forthcoming.

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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  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which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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