Cost Accounting Standards Board (CASB)

The Cost Accounting Standards Board (CASB) is a U.S. government body that establishes rules for cost accounting in government contracting. Its main purpose is to ensure that costs incurred by contractors are consistently measured and allocated. This helps create fairness in government contracts and ensures taxpayer money is spent appropriately. CASB's standards help both the government and contractors understand how to track and report costs, promoting transparency and accountability in the pricing of goods and services provided to the government.