Updating cas disclosure statements
Exemptions from Filing Disclosure Statements Federal contracts and subcontracts are exempt from CAS requirements and filing a disclosure statement if the contract or subcontract is: The following categories of federal contracts and subcontracts are exempt from all CAS requirements (.201-1) and filing a disclosure statement: How to File Disclosure Statements There are eight sections to a CAS disclosure statement.
The rules for determining whether full or modified coverage applies are in .201-2 (FAR Appendix). (b) If an award to an educational institution is contemplated prior to July 1, 1997, the contracting officer shall insert the basic provision set forth at 52.230-1 with its Alternate I, unless the contract is to be performed by a Federally Funded Research and Development Center (FFRDC) (see .201-2(c)(5) (FAR Appendix)), or the provision at .201-2(c)(6) (FAR Appendix) applies.
The Government's objective is to obtain an adequate description of the accounting system.
During an adequacy review, contractors (or prospective contractors) are usually given the opportunity to revise any identified deficiencies, clarify wording, or expand upon a description or accounting practice.
(c) Insert the provision at FAR 52.230-7, Proposal Disclosure—Cost Accounting Practice Changes, in solicitations for contracts subject to CAS as specified in .201 (FAR Appendix). (1) The contracting officer shall insert the clause at FAR 52.230-2, Cost Accounting Standards, in negotiated contracts, unless the contract is exempted (see .201-1 (FAR Appendix)), the contract is subject to modified coverage (see .201-2 (FAR Appendix)), or the clause prescribed in paragraph (c) of this subsection is used.
(2) The clause at FAR 52.230-2 requires the contractor to comply with all CAS specified in (FAR Appendix), to disclose actual cost accounting practices (applicable to CAS-covered contracts only), and to follow disclosed and established cost accounting practices consistently.