[Federal Register Volume 59, Number 228 (Tuesday, November 29, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29318]


[[Page Unknown]]

[Federal Register: November 29, 1994]


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OFFICE OF MANAGEMENT AND BUDGET

Office of Federal Procurement Policy

48 CFR Part 9903

 

Cost Accounting Standards Board; Cost Accounting Standards Board 
Disclosure Statement Form (CASBP DS-1)

AGENCY: Cost Accounting Standards Board, Office of Federal Procurement 
Policy, OMB.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Office of Federal Procurement Policy, Cost Accounting 
Standards Board (CASB), proposes to revise its Disclosure Statement 
Form (CASB DS-1). Section 26(g)(1) of the Office of Federal Procurement 
Policy Act requires that the Board, prior to the promulgation of any 
new or revised Cost Accounting Standard, publish a Notice of Proposed 
Rulemaking (NPRM). This NPRM addresses the Board's efforts to update 
and revise the CASB Disclosure Statement.

DATES: Requests for a copy of the Disclosure Statement form must be in 
writing and must be received by January 30, 1995. Comments must be in 
writing and must be received by February 13, 1995.

ADDRESSES: Requests for a copy of the Disclosure Statement or comments 
upon its contents should be addressed to Dr. Rein Abel, Director of 
Research, Cost Accounting Standards Board, Office of Federal 
Procurement Policy, 725 17th Street, NW, Room 9001, Washington, DC 
20503. Attn: CASB Docket No. 93-02N.

FOR FURTHER INFORMATION CONTACT:
Dr. Rein Abel, Director of Research, Cost Accounting Standards Board 
(telephone: 202-395-3254).

SUPPLEMENTARY INFORMATION:

A. Regulatory Process

    The Cost Accounting Standards Board's rules and regulations are 
codified at 48 CFR Chapter 99. Section 26(g)(1) of the Office of 
Federal Procurement Policy Act, 41 U.S.C. 442(g)(1), requires that the 
Board, prior to the promulgation of any new or revised Cost Accounting 
Standard, complete a prescribed rulemaking process. This process 
consists of the following four steps:
    1. Consult with interested persons concerning the advantages, 
disadvantages and improvements anticipated in the pricing and 
administration of government contracts as a result of a proposed 
Standard.
    2. Promulgate an Advance Notice of Proposed Rulemaking.
    3. Promulgate a Notice of Proposed Rulemaking.
    4. Promulgate a Final Rule.
    This proposal is step three in the four step process.

B. Summary of Proposed Rule

    The Board initiated a case to consider issues related to the 
revision of the Disclosure Statement form (CASB DS-1), which was 
originally developed and promulgated in the early 1970s. Only minor 
revisions to the Statement have been made prior to the initiation of 
the current project. On April 2, 1993, the CASB distributed a Staff 
Discussion Paper incorporating a revised Disclosure Statement to 
certain interested parties who generally possessed actual field 
experience in submitting and auditing these documents. On the basis of 
the comments received in response to the Staff Discussion Paper, an 
Advance Notice of Proposed Rulemaking (ANPRM) was developed and 
published in the Federal Register on April 4, 1994 (59 FR 15695). The 
Board is continuing the revision process to improve the quality of 
information presented in the Disclosure Statement form.
    The purpose of this NPRM is to seek broad public comment concerning 
the format and data to be collected on the proposed form. In 
particular, the Board is interested in soliciting additional comments 
concerning the relevance and adequacy of the required disclosures to 
the quality of the government contract cost measurement process.
Richard C. Loeb,
Executive Secretary, Cost Accounting Standards Board.
[FR Doc. 94-29318 Filed 11-28-94; 8:45 am]
BILLING CODE 3110-01-M