Consequences of Section 809.1 Panel’s Recommendations and Update on Cost Accounting Standards (CAS): 809 Panel’s Professional Practice Guide and CAS/GAAP Conformance Rule

August 26, 2020 10:15am

Timothy J. DiNapoli
Director, Contracting and National Security Acquisitions
US Government Accountability Office (Washington, DC)

Barbara Michael
Vice President
Government Compliance Perspecta
(Washington, DC)

  • Update on the Section 809 Panel’s professional practice guide and its impact
  • New developments in CAS board and what are the requirements to be CAS compliant
  • Conformance of the CAS and GAAP (generally accepted accounting principles) status and criteria
  • Updates on CASB’s efforts to harmonize recent GAAP revenue recognition and lease accounting rules with CAS
  • Clarity on CAS 413 Harmonization
  • CASB’s consideration of the Section 809 Panel’s recommendation to clarify CAS applicability to IDIQ (Indefinite Delivery, Indefinite Quantity) contracts