CANCELLED: Incurred Cost Audits of Government Contractors & Subcontractors (111031-16)
Description
Learn about the Government’s Incurred Cost Audit of the Indirect Rate
Submission from the submission of the rate proposal to the conclusion of
the audit process. Participants will learn what to expect during the
audit, the records that will be requested and the expenses that will be
certain to draw the attention of the auditors
Learning Objectives
•Understand the Incurred Cost Audit resulting from the Rate Submission and the Impact on Finalization of Indirect Rates, Contract Costs and Contract Close-out •Learn How to Insure the Acceptance of the Submission •Gain Knowledge of the Audit Processes and Key Audit Steps •Understand the Depth of the Audit •Understand the Inter-Relationships of this Audit to Various Company Systems & Procedures •Learn which Accounts are Audit “ Sensitive” and Could Result in Penalty Imposition •Learn How to
Assess Vulnerabilities •Gain Knowledge and an Understanding of the Impact of the Audit Findings and •Learn about the Requirements to Adjust Billings and Close Contracts
Major Topics
•Covered Contract Types •How to make sure the submission is accepted & the Impact of its rejection •The Audit Process and What Agency Will Perform the Audit •Systems That will be Reviewed During The Audit •The Audit Process & Steps From Beginning to End •Key Elements of Costs That Will Receive “Special” Attention •The Impact of Executive Compensation •Penalties for Claiming Unallowable Costs •Finalization of The Indirect Rates including Audit Determination or Negotiation •Appeals of Disputes Arising From Inability to Agree on the Rate •Impact of the Statute of Limitations
Provider
Norman J. Lorch, Chartered
Course Level
Intermediate
CPE Field of Study
Accounting (Governmental)
4
Auditing (Governmental)
4
Instructor(s)
Norm Lorch
Prerequisites
No prerequisites, but knowledge of Government Contracts is preferred
Location
Loyola University Maryland Graduate Center Columbia Campus
