We would like to remind all Federal Government Contractors that if you had a cost reimbursable type contract in 2015, and your FY ends on December 31st, you are facing a critical deadline in less than 4 weeks: Your Incurred Cost Proposal/Submission (ICE) is Due No Later Than June 30th (per FAR 52.216-7).Read the Full Blog Here
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The Defense Contract Audit Agency (DCAA) has just released an updated version of the Incurred Cost Electronically Model (the standard ICE submission) for contractors preparing adequate incurred cost proposals in accordance with FAR 52.216-7.Read the Full Blog Here
Over the last couple of years the DCAA has increased it's focus on auditing Incurred Cost Proposals. This has resulted in some companies getting involved with the DCAA auditing ICP's as much as 6 or 7 years old. I don't know about you but I have a hard time remembering last week, let alone 6 years ago. This certainly causes a problem in contract close-outs since the ICP must be accepted in order to true up the indirect billing rates on a cost type contract. There are some new directives that may help relieve some of this situation for the small business.