The Administration of Cost Accounting Standards clause requires contractors performing Cost Accounting Standards (CAS) covered contracts to submit notifications and descriptions of certain cost accounting practice changes, including revisions to their Disclosure Statements, if applicable. Often these descriptions are quite complex.
The decrease of responses from 2,709 to 1,797 and the associated decrease in estimated burden hours from 474,075 to 314,475 is an adjustment due to an increase in the threshold for submitting certified cost or pricing data from $750,000 to $2 million resulting from the statutory changes to the Truth in Negotiations Act, 10 U.S.C. 2306a and 41 U.S.C. 3502. Raising this threshold results in fewer companies performing CAS-covered contracts.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.