A Contractor’s Guide to Incurred Cost Submissions & Audits

April 23, 2020

Incurred Cost Submissions (ICS) and audits present challenges for government contractors. The ICS and the corresponding audit are much more than “check the box” compliance requirements completed once a year and typically audited many years after completion. An inadequate ICS or failure to prepare for the audit of an ICS can adversely affect a contractor’s finances and profit every bit as much as underbidding a contract or performing it poorly.

The purpose of this whitepaper is to provide contractors with the information required to ensure the ICS and related audit optimizes cost recovery. This whitepaper is divided into three parts.

  1. The first part will describe the ICS process utilizing the who, when, where, what, and why format.
  2. The second part will describe the government’s current approach to incurred cost audits.
  3. The whitepaper will conclude with best practice tips based on Aronson’s decades of
    experience preparing incurred costs submissions for our clients and supporting incurred
    cost audits.

Download “A Contractor’s Guide to Incurred Cost Submissions & Audits” to receive practical advice and expert insights. Contact Nicole Mitchell at 240.364.2580 to discuss your incurred cost submission requirements and how Aronson’s government contracting experts can assist.