Page:United States Statutes at Large Volume 124.djvu/3721

 124 STAT. 3695 PUBLIC LAW 111–350—JAN. 4, 2011 (2) Share experiences, ideas, best practices, and innovative approaches related to Federal acquisition. (3) Assist the Administrator in the identification, develop- ment, and coordination of multiagency projects and other innovative initiatives to improve Federal acquisition. (4) Promote effective business practices that ensure the timely delivery of best value products to the Federal Government and achieve appropriate public policy objectives. (5) Further integrity, fairness, competition, openness, and efficiency in the Federal acquisition system. (6) Work with the Office of Personnel Management to assess and address the hiring, training, and professional development needs of the Federal Government related to acquisition. (7) Work with the Administrator and the Federal Acquisition Regulatory Council to promote the business practices referred to in paragraph (4) and other results of the functions carried out under this subsection. CHAPTER 15—COST ACCOUNTING STANDARDS Sec. 1501. Cost Accounting Standards Board. 1502. Cost accounting standards. 1503. Contract price adjustment. 1504. Effect on other standards and regulations. 1505. Examinations. 1506. Authorization of appropriations. § 1501. Cost Accounting Standards Board (a) ORGANIZATION.—The Cost Accounting Standards Board is an independent board in the Office of Federal Procurement Policy. (b) MEMBERSHIP.— (1) NUMBER OF MEMBERS, CHAIRMAN, AND APPOINTMENT.— The Board consists of 5 members. One member is the Adminis- trator, who serves as Chairman. The other 4 members, all of whom shall have experience in Federal Government contract cost accounting, are as follows: (A) 2 representatives of the Federal Government— (i) one of whom is a representative of the Department of Defense appointed by the Secretary of Defense; and (ii) one of whom is an officer or employee of the General Services Administration appointed by the Administrator of General Services. (B) 2 individuals from the private sector, each of whom is appointed by the Administrator, and— (i) one of whom is a representative of industry; and (ii) one of whom is particularly knowledgeable about cost accounting problems and systems. (2) TERM OF OFFICE.— (A) LENGTH OF TERM.—The term of office of each member, other than the Administrator, is 4 years. The terms are staggered, with the terms of 2 members expiring in the same year, the term of another member expiring the next year, and the term of the last member expiring the year after that. (B) INDIVIDUAL REQUIRED TO REMAIN WITH APPOINTING AGENCY.—A member appointed under paragraph (1)(A) may not continue to serve after ceasing to be an officer or employee of the agency from which that member was appointed.