Government contractors are accustomed a myriad of reporting requirements. One such requirement that has caused much consternation is the FAR’s executive compensation clause which, as of October 1, 2015, applies to all contracts exceeding $30,000, as opposed to the pre-inflationary adjustments threshold of $25,000. The clause requires contractors to report their five most highly-paid executives and list their total compensation for the preceding fiscal year. Most contractors are–not surprisingly, given the nature of the information–very reluctant to disclose such information and our firm has received many questions as to the ramifications of non-compliance.
To begin, the reporting requirement is overlooked by …read more
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