• Cost Accounting Standards Exemption for Overseas Contracts Eliminated - Effective October 11
  • August 23, 2011 | Authors: Caitlin S. Kaprove; John G. Stafford
  • Law Firm: Greenberg Traurig, LLP - Washington Office
  • On August 10, 2011, the Cost Accounting Standards Board of the Office of Federal Procurement Policy eliminated the existing exemption from Cost Accounting Standards (CAS) coverage for contracts executed and performed entirely outside the United States, its territories and possessions. As a result, contractors performing work outside the United States on U.S. government contracts are now subject to complex and possibly costly CAS compliance requirements from which they were previously exempt.