3 Jul 2025
đŸ“‘Change Order Accounting Regulation; Implications for Contractors
Submission for OMB Review; Change Order Accounting and Notification of Changes
Summary
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to OMB a request to review and approve an extension and revision of a previously approved information collection requirement regarding change order accounting and notification of changes.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
- Federal Procurement Policy Office
- Management and Budget Office
Business Impact
$$ - Med
The regulation outlines compliance requirements for contractors regarding change order accounting and notification, impacting financial planning and contract management for businesses involved with the federal government. Specific clauses require timely assertions for adjustments, raising the importance of proper documentation and cost management.