A contractor's Disclosure Statement is its benchmark for conducting business with Uncle Sam. We'll kick off this web series with an overview of the CASB Disclosure Statement. Specifically, we'll discuss the applicability and trigger requirements for CAS and the Disclosure Statement. Next, we'll discuss the Disclosure Statement and define the cost accounting practices described within it. The first session will preview the web series and establish the foundation for the following 3 sessions, where we delve into greater detail and provide perspective on some of the most often raised compliance challenges.

This 4-part Disclosure Statement webinar series is a practical guide to explaining the requirements, process, and common challenges encountered by contractors and oversight officials alike. Understanding the compliance requirements is essential to facilitate compliance in CAS-covered contracts.

Completing the benchmark which we call the Disclosure Statement involves a multidisciplinary team comprised of functional areas that may include Accounting/Finance, Human Resources, Treasury, Program, and Pricing members. In this session, we walk through the Disclosure Statement -- Specifically, the cover sheet, eight parts of the Disclosure Statement, and the continuation sheet. We'll describe the resources supporting each section and the requirements.

Once documented, now it's time for customer inspection. Learn the fundamental audit and administration expectations when supporting adequacy and compliance audits. Disclosure Statements are subject to two types of audits: Adequacy and compliance. The adequacy audit is a barrier to entry audit, meaning the lack of a "clean" opinion can impede a CAS contract award. Additionally, the compliance audits include audit programs identified to each of the 19 standards. In this session, participants will become familiar with the common audits supporting CASB Disclosure Statement compliance and identify conventional risks and readiness strategies to help mitigate audit risks.

Uh oh, we've got a revision, update, or change -now what? In this final session, we explore revisions and updates to the CASB Disclosure Statement and changes to cost accounting practices. We'll describe the difference between administrative changes, changes to cost accounting practices, and the exceptions provided for in the regulations and guidance.