Live Webinar | Thursday, April 04, 2013 | 1PM Eastern
DCAA has made it clear to Congress that one of their top priorities will be addressing the extensive backlog of Incurred Cost Submissions. This news further emphasizes how important it is for government contractors to be aware of DCAA requirements.
Are you aware that DCAA has a newly updated submission? Do you know if you have a requirement to file an Incurred Cost Submission? Do you understand the DCAA Adequacy Checklist? If you answered “no” to any of these questions, this webinar will guide you through deciding if an Incurred Cost Submission is required, what is involved to prepare an adequate Incurred Cost Submission, and how best to prepare for an uncomplicated audit.
Learning Objectives Continue reading »
As a follow-up to the L2 Federal Resources webinar on “Attributes of an Adequate Accounting System,” Aronson LLC government contracting specialists Nicole Mitchell and Brian Bender have prepared answers to several attendee questions:
Is my contract covered by the Cost Accounting Standards (CAS), and how do I determine the level of CAS coverage (e.g., Full, Modified, Not CAS Covered)?
Click here to download a flowchart that illustrates the method for determining CAS coverage and whether or not your company should be submitting a Disclosure Statement.
Does my company have a robust set of policies and procedures?
At a minimum, your business should have the following written policies and procedures (P&P) in place prior to DCAA review/audit: Continue reading »
Government contractors across the U.S. have found themselves in a holding pattern over the past few years, adapting to constant delays and waiting for economic uncertainty to be resolved. Between continuing resolutions, the debt ceiling crisis, and the threat of sequestration, government contracting companies have struggled to find new ways to be successful in the face of change.
According to a recent white paper by the Professional Services Council, “between fiscal years 2011 and 2012, federal spending on service contracts dropped more than $5 billion, which translates directly into the elimination of tens of thousands of contractor positions across the nation.” This, combined with a rise in Continue reading »
If you hold a Multiple Award Schedule (MAS) Contract with GSA, it is important to understand what contract documents you need and where you can find them. Maintaining complete documentation of your GSA contract is necessary to remain successful, especially when negotiating with the government and during Contractor Assistance Visits (CAV).
During your CAV, the Industrial Operations Analyst (IOA) will be looking for specific contract documents. It is best to have hard copies of these important documents on hand, as well as electronic copies for back up. You will have trouble achieving the highest grade of ‘Excellent’ on your CAV report card if you are not able to produce these documents. If you do not have a comprehensive contract file, start gathering documents now to ensure success with your contract going forward.
Documents You Need: Continue reading »
Principal Deputy Assistant Attorney General Stuart Delery recently announced the Department of Justice’s (DOJ’s) record year for False Claims Act (FCA) civil recoveries. What was the FY 2012 amount? Nearly $5 billion.
To what does DOJ attribute this startling number? According to Delery, who spoke at a recent briefing, “this Administration has achieved record returns for the U.S. Treasury and demonstrated the power of the False Claims Act for addressing fraud” by “by focusing on rooting out fraud like never before.” Continue reading »
In addition to causing the impacts on winning awards and maintaining contract scope discussed in our previous article, sequestration promises to make contract performance substantially more difficult for government contractors. This doesn’t mean that sequestration will add to the requirements with which contractors have to comply. It just means that sequestration will give contractors more reason than ever to comply with all contract requirements.
Regulation and oversight of government contractors continues to trend upward and shows no sign of falling off any time soon. So contractors will continue to face substantial compliance challenges. After sequestration, however, lack of compliance will potentially have much greater impact. Continue reading »
Joe Jordan, recently appointed Administrator of the Office of Federal Procurement Policy wrote in his blog that “It is critical that the government take a hard line against those who would defraud taxpayers.” This is much more than rhetoric because Mr. Jordan went on to cite statistics released by the Interagency Suspension and Debarment Committee indicating the suspensions and debarments have increased from approximately 1,900 in GFY 2009 to Continue reading »
The Foreign Account Tax Compliance Act (“FATCA”) was enacted on March 18, 2010 as part of the Hiring Incentives to Restore Employment Act of 2010 (P.L. 111-147, H.R. 2847). The purpose of FATCA is to help improve U.S. compliance involving foreign financial assets and offshore accounts. FATCA affects U.S. taxpayers and foreign financial institutions. FATCA requires U.S. taxpayers with specified foreign financial assets that exceed certain threshold amounts to report such assets to the IRS on Form 8938 beginning with the 2011 tax filing season. FATCA also requires foreign financial institutions (“FFIs”) to report Continue reading »
On February 6, 2012, the Air Force listed the San Antonio, TX office of Booz Allen Hamilton (BAH) on the Excluded Parties List System. A February 8, 2012, 8-K filing with the SEC, BAH stated the suspension relates solely to its San Antonio office and individually to two current and three former employees.
The issue stems from the actions of a former government employee hired by BAH who retained and shared sensitive data about a pending procurement BAH was going to bid on. Continue reading »
On January 18, 2012 the Armed Services Board of Contract Appeals (ASBCA) ruled the Defense Contract Audit Agency (DCAA) sampling methodology for audits of contractor executive compensation is “fatally flawed statistically and therefore unreasonable.”
This decision is related to Continue reading »
What We Are Writing
- A Marriage of Inconvenience: GSA Schedule Contracts & The Contractor Code of Business Ethics & Conduct Clause
- Emerging Small Businesses: To Grow Your Business, You Must Plan For Growth
- Government Contracting: Look Before You Leap!
- GSA Schedules – Strategies for Success
- New Employee vs. Independent Contractor Considerations
- Pay on Display – Understanding the Executive Compensation and Subcontractor Data Reporting Requirements & Ramifications
- The GSA Schedule: Your Ticket to the Federal Market (May 2010)
- The New FAR Codes of Conduct and Compliance Program Provisions
- The Seven Deadly Sins (of contract compliance)