Cost Accounting Standards Board

The Cost Accounting Standards Board (CASB) is a government organization that establishes uniform rules and guidelines for how companies should measure, assign, and report costs on government contracts. Its goal is to ensure transparency, fairness, and consistency in the costing practices of contractors working with the federal government. By setting these standards, CASB helps prevent cost misallocation, promotes competition, and ensures taxpayers' money is spent responsibly. In essence, it provides a clear framework for managing and reporting costs to maintain integrity and trust in government procurement processes.