Seven Years to Insert a Single Word Into a Regulation
Back in October 2011, the Cost Accounting Standards Board (CASB) issued a proposed rule to clarify one of the CAS (Cost Accounting Standards) exemptions provided by FAR 9903.201. Since 2000, this provision has provided an exemption from CAS for Firm-Fixed-Price contracts and subcontracts awarded on the basis of adequate price competition without submission of cost or pricing data. The CASB proposed to add the word “certified” before “cost or pricing data”.
Source: PNWC’s Government Contracting Update: Seven Years to Insert a Single Word Into a Regulation