16 Jun 2025
📊OMB Review Notice on Cost Accounting Standards Administration
Submission for OMB Review; Cost Accounting Standards Administration
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 of a previously approved information collection requirement regarding cost accounting standards administration.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
- Federal Procurement Policy Office
- Management and Budget Office
Business Impact
$$$ - High
The text discusses the extension of information collection requirements related to cost accounting standards that contractors must comply with. This affects business owners in regulated industries as they must adapt to complex compliance measures under the Federal Acquisition Regulation (FAR), contributing to operational costs and administrative burdens.