Future Role of the Cost Accounting Standards Board
SP-99-1: Published: Apr 2, 1999. Publicly Released: Apr 2, 1999.
- Full Report:
GAO published a summary of recommendations made by the Cost Accounting Standards (CAS) Board Review Panel regarding the CAS Board and the CAS system. The panel believes that reforms are needed to encourage the participation of new commercial companies in government procurement and to reduce the burden of government unique accounting requirements on smaller companies. The panel believes that: (1) there should be changes to CAS' location, membership, and staffing; (2) there should be changes in CAS applicability thresholds; (3) Congress should provide contracting agencies with responsibility for contract administration related to CAS; and (4) an overall review of the CAS and its attendant requirements is warranted to judge whether the standards should be streamlined.