Incurred Cost Submissions Ready to Submit? If Not, It Could Cost you Money!

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DCAA issued tough new guidance on the treatment of delinquent or inadequate Incurred Cost Submission (ICS) proposals. This guidance significantly increases the Administrative Contracting Officer’s (ACO) authority to unilaterally establish a contractor’s final indirect rates when the ICS is delinquent or inadequate. While preparing an adequate ICS and undergoing an incurred cost audit can be daunting, allowing the ACO to unilaterally determine your final indirect rates is much worse. The ACO will likely unilaterally set indirect rates lower than you are legally entitled to and the resulting reduced cost recovery affects profitability.

Previously, DCAA sent friendly reminder …read more

Read more here: Government Contracting

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