Disclosure and Consistency of Cost Accounting Practices for Contracts Awarded to Foreign Concerns (FAR Case 2009-025)

Summary:

FAC 2005-50 adopts as final, without change, an interim rule amending the Federal Acquisition Regulation (FAR) to align it with a Cost Accounting Standards (CAS) Board clause, Disclosure and Consistency of Cost Accounting Practices-Foreign Concerns.

Supplementary Information:

I. Background

DoD, GSA, and NASA published an interim rule in the Federal Register at 75 FR 34283 on June 16, 2010, to maintain consistency between CAS and FAR in matters relating to disclosure requirements of CAS for contracts awarded to foreign concerns. Specifically, the interim rule was issued in response to the Cost Accounting Standard Board's March 26, 2008, publication of a final rule, which implemented the use of the clause, Disclosure and Consistency of Cost Accounting Practices--Foreign Concerns, in CAS-covered contracts and subcontracts awarded to foreign concerns (73 FR 15939).

The interim rule amended the FAR to align FAR clause 52.230-4 with the Cost Accounting Standards Board clause, Disclosure and Consistency of Cost Accounting Practices--Foreign Concerns. FAR clause 52.230-6, Administration of Cost Accounting Standards, was also revised to include reference to FAR clause 52.230-4.

DoD, GSA, and NASA received no comments on the interim rule and have adopted the interim rule as a final rule without change.

Dates:

The Effective Date for this final rule is 16 March 2011.

Click here to read the entire Federal Register notice for this rule.

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