CAS-covered Contract Not "Affected" By Accounting Change
Client Alert | less than 1 min read | 07.03.07
In its first addressing of the definition of "affected contracts" under the CAS regulations in a situation that arises with surprising frequency, the ASBCA in Lockheed Martin Corp. (June 28, 2007), a case handled by Crowell & Moring, has held that a CAS-covered contract awarded before a change in accounting practice was disclosed and implemented, but completely repriced with full disclosure of the change, is not "affected" by the change and is not subject to price adjustment to reflect the impact of the change. The decision also includes guidance about the meaning of "desirable" changes that should be helpful to contractors.
Insights
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Federal Roundup: Updates for PBMs and Medicare Advantage Organizations
In June 2026, federal regulators and lawmakers continued their efforts to improve drug affordability through targeted reforms. These recent developments will primarily impact pharmaceutical manufacturers, managed care organizations, and pharmacy benefit managers (PBM) serving Medicare Part D program members. PBMs, Medicare Advantage organizations, and Part D sponsors should monitor these changes in the interest of maintaining compliance and providing input on regulatory proposals that may influence their business operations or compensation structures in the future.
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Twin Executive Orders Seek to Spur Quantum Leap in Technology and Cybersecurity
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