Aronson’s experts are helping companies expand their approach to government contracting. Join Aronson as we speak at the following events in February:
Aronson LLC | Free Webinar – Managing Cost Type Contracts: Many government service contractors successfully enter the government market with relatively straightforward T&M (Labor Hour) contracts. Eventually an opportunity to bid and perform larger and more complex cost reimbursement contracts will present itself. The skills required to manage T&M contracts differ markedly from the skills required to manage a cost type contract. This informative webinar will show how to recover costs, make a profit, and avoid enforcement action.
ACG | Live Event – Growth Roundtable Discussion: This interactive and informative roundtable, led by industry experts, will explore strategies that work, and pitfalls to avoid, with inorganic growth initiatives. This is a corporate growth roundtable discussion for C-level corporate leaders. Discussion topics will include common reasons and strategies for pursuing acquisitions to increase the value of a firm.
Thompson Government Contracting | Webinar – Demystifying DCAA Incurred Cost Submissions: Submitting the Incurred Cost Submission (ICS) has never been easy, and it has been common for federal contractors to miss the deadline. But miss your deadline this year and you’ll get more than a friendly reminder: you’ll get just 30 days to submit an adequate ICS before DCAA’s tough guidance gives the ACO sole power to establish your final indirect rates. Given the impact that could have on contract profitability, you must get out in front of the issue. You need to remove any confusion over the new DCAA adequacy and risk assessment requirements, and follow today’s absolute best practices for getting your spreadsheet to qualify as “adequate.” Sign up today to find out how to get it right — and on time!
DCAA (Defense Contract Audit Agency) is trying to close out outstanding Incurred Cost Submissions (ICS) and if yours has not been submitted you are at RISK! A recent MRD states that in May 2016 DCAA will provide a list of delinquent contractors to the Defense Contract Management Agency (DCMA) for ICS Fiscal Years Ending (FYE) 2014 and older that do not have a valid extension.
So what happens if you’re on this list? Well, June 2016, if DCMA does not notify the DCAA of a valid extension or ongoing coordination that would authorize leaving the assignments open, DCAA audit teams are advised to close out ICS assignments on the list. If an ICS is received after an assignment has been closed, DCAA can re-open the assignment if requested.
On March 3, 2016, our Aronson LLC Government Contracting specialists Donna Dominguez and Aisha Mian hosted “Cracking the Code: Preparing an Incurred Cost Submission,” where they provided tips, guidance, and best practices to help government contractors efficiently prepare Incurred Cost Submissions. As a follow up to this webinar, Donna and Aisha have prepared answers to attendee questions that we wanted to share with our blog readers. If you’re interested in viewing a recording of this webinar, please click here.
If you’re a contractor that has a majority of non-DoD contracts, you’ll want to pay attention to this update on DCAA audits! The 2016 National Defense Authorization Act prohibits the DCAA from providing audit support to any non-DoD agency until the Secretary of Defense certifies that the DCAA has reduced its backlog of incurred cost submissions to 18 months or less. While this sounds advantageous to the DCAA, it sounds relatively painful to a contractor who is currently amidst an audit with the DCAA.
This is the year to crack the code and sail through the Incurred Cost Submission (ICS) with ease! Be aware that if you don’t crack the code, the profit on your federal contract could be far less than agreed. Even if you’ve never received an inadequacy letter before… Even if you are exclusively a subcontractor… you need to be conscious of DCAA’s tough guidance that can dramatically raise the financial penalties for submitting an inadequate or late spreadsheet. Why risk being audited or having the ACO slash your rates?
For everyone who prepares, reviews or signs an ICS and is a federal prime or subcontractor, this 75-minute webinar can clear the way to protecting contract value and your reputation. You’ll learn exactly what it takes to cross the ICS finish line by the June 30, 2016 deadline and how to apply for an extension in time to make a difference.