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FERC/NERC Compliance Guidance Amid Potential Coronavirus Impacts

Client Alert | 1 min read | 03.19.20

The Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corporation (NERC) jointly issued compliance guidance notifying NERC-registered entities that they will consider the impact of the coronavirus outbreak as an acceptable basis for noncompliance with certain NERC Reliability Standards and related activities, as follows: 

  • Noncompliance with obtaining and maintaining personnel certification under PER-003-2, for the period March 1, 2020 through December 31, 2020, except that registered entities must notify their Regional Entities and reliability coordinators when using system operator personnel that are not NERC-certified.
  • Noncompliance with Reliability Standard requirements involving periodic actions that would have to be taken between March 1, 2020 and July 31, 2020, except that registered entities must notify their Regional Entities of any periodic actions that will be missed during this period.
  • Regional Entities will postpone on-site audits, certifications, and other on-site activities through July 31, 2020.
  • Registered entities should communicate any coronavirus-related resource impacts associated with remote activities to their Regional Entities.

Please contact us if you have any questions regarding this guidance.

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Client Alert | 1 min read | 07.08.26

CAS Board Publishes Final Rule Rescinding CAS 404, 408, 409, and 4117

As part of its ongoing effort to conform the Cost Accounting Standards (“CAS”) to generally accepted accounting principles (“GAAP”), the CAS Board published a final rule rescinding CAS 408 (Accounting for costs of compensated personal absence) and CAS 411 (Accounting for acquisition costs of material).  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which will be located in new paragraphs of CAS 405 (Accounting for unallowable costs).  Specifically, the CAS Board retained the requirements currently located at CAS 404-50(d)(1), CAS 409-50(e)(5), CAS 409-50(j)(1), and CAS 409-50(j)(4), which the CAS Board explained are necessary to protect the Government’s interests.  Otherwise, the CAS Board determined that the requirements of CAS 404, 408, 409, and 411 overlapped with GAAP such that GAAP “may be applied reasonably as a substitute for CAS to support contract cost and pricing.”...

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