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Submitting the Incurred Cost Submission (ICS) has never been easy, and often present a number of challenges such as underestimating the time and effort it takes to prepare the submission needed to meet the complex compliance requirements. This miscalculation of time can lead Contractors to submit their ICS late. Sometimes the complexities of preparing the submission can be frustrating, which may also causes a delay submitting timely.
This webinar uncovered the secrets to developing an adequate ICS, addressed who needs to prepare and submit and ICS, and shared best practices for preparing for the resulting audit. Led by Donna Dominguez and Tom Marcinko, this presentation provided a detailed overview of the ICS process and focus on the complexities within the adequacy checklist to help you avoid common inadequacy pitfalls.
- Understanding the ICS and the filing requirements
- Best practices for completing your spreadsheet
- Meeting adequacy checklist criteria and earning a low risk rating
- Ramifications of non-compliance, including undergoing an incurred cost audit, having the administrative contracting officer (ACO) unilaterally set your rates, and making the list of delinquent contractors
- Tips for surviving an ICS audit