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The Allowable Cost and Payment clause (FAR 52.216-7) requires contractors with cost-reimbursement contracts or time-and-materials contracts (other than a contract for a commercial item) to submit an adequate final incurred cost proposal within six months after the end of their fiscal year.

In submitting an incurred cost proposal, it is important to provide accurate supporting schedules as well as a signed “Certificate of Indirect Costs.” Failing to provide an adequate submission by the due date can result in DCAA recommending to the Contracting Officer a unilateral determination on the contractor’s final indirect cost rates.

Learning objectives of this webinar include:
  • What is an ICS?
  • How do I prepare for an ICS?
  • How is the ICS evaluated?
  • How do I prepare for an ICS audit?

This webinar is sponsored by Premier Consulting & Integration (PCI)




About Our Experts
  • Stephanie James
    Compliance Consultant, PCI
    Stephanie is an experienced compliance professional with a demonstrated history of working in the defense contract industry. As a former, DCAA auditor, Stephanie has a strong accounting background skilled in Internal audit, external audit, financial statement preparation, and full cycle accounting.
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