Cost Accounting Standards Board: Little Progress Made In Resolving Important Issues

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Report Type	Reports and Testimonies
Report Date	May 25, 1994
Report No.	AIMD-94-88
Subject	Accounting procedures Auditing procedures Contract costs Cost accounting Cost accounting standards compliance Federal agency accounting systems Federal procurement Staff utilization Negotiated procurement Standards evaluation

Summary:

Since the newly established Cost Accounting Standards Board began operations in July 1990, it has made minimal progress in resolving pressing cost accounting issues. The Board has completed only three of its original 12 projects, two of which dealt primarily with internal organizational and operational issues. The inherent nature of the Board's work as a standard-setter, where general acceptance is obtained through deliberative due process procedures, makes it hard to measure timeliness. However, the Board's progress has been hampered by limited staffing and inadequate planning and project management. The majority of respondents to GAO's survey of government and industry contracting representatives believed that the Board has been moving too slowly in issuing authoritative guidance and probably has too few staff.

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Cost Accounting Standards Board: Little Progress Made In Resolving Important Issues