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Who Knew? Limitations Defense Kept in Play Against U.S.

Client Alert | 1 min read | 07.23.12

In Sikorsky Aircraft Corp. v. U.S., the Court of Federal Claims found there to be triable issues of fact  with regard to  the contractor's statute of limitations defense as to when the government's claim accrued, i.e., when the government "knew or should have known" of alleged CAS 418 noncompliance. This case follows a series of similar recent cases at the CFC and the ASBCA and raises the issue of who in the government needs to have notice of a claim for it to accrue -- a contracting officer or "other responsible actors" such as DCAA auditors -- a question the court declined to resolve "[a]t this early juncture" in the proceedings.


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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  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which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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