The Federal Circuit’s decision in Raytheon Co. v. United States, No. 2013-5004 & 2013-5006 (Fed. Cir. April 4, 2014) [pdf] affirms a $59-million judgment arising from a government challenge to Raytheon’s calculation and payment of pension fund adjustments. It is certainly an important case because of the money at stake for Raytheon and its analysis
"cost accounting standards"
More contractor oversight in the 2012 National Defense Authorization Act
By Brian Waagner on
Many of the new contracting policies imposed by the National Defense Authorization Act for Fiscal Year 2012 [pdf] are geared towards increasing oversight of defense contractors and reducing the federal government’s outlay of cash. Here are a few of the highlights.
Continue Reading More contractor oversight in the 2012 National Defense Authorization Act
New Scrutiny for “Contractor Business Systems”
By Husch Blackwell on
Posted in Compliance
Congress recently passed legislation (Section 893 0f the National Defense Authorization Act of 2011) requiring the Secretary of Defense to develop a program ensuring that “contractor business systems” provide timely, reliable information for the management of Department of Defense programs. “Contractor business systems” include accounting systems, estimating systems, earned value management systems, material management and accounting systems, and property management systems.
The program required by this legislation will set requirements for contractor business systems, establish a process for reviewing contractor business systems, and provide for disapproval of any contractor business system that has a significant deficiency. If a contractor business system is disapproved, DoD will work with the contractor to develop a corrective action plan. Until the system is approved, DoD may withhold up to 10 percent of progress and other payments on cost type contracts with contractors that are covered by the Cost Accounting Standards.Continue Reading New Scrutiny for “Contractor Business Systems”