Idaho APEX is co-hosting this event. Join Montana APEX Accelerator for a high-level overview of Foreign Ownership, Control, or Influence (FOCI). Gain a clear understanding of how it can impact your ability to compete for and maintain federal contracts. This session will demystify the concept, explain compliance requirements, and outline practical steps to identify and mitigate potential FOCI risks. Whether your business is currently contracting with the government or exploring new contract opportunities, this overview will help you strengthen your readiness and protect your eligibility in the federal marketplace.
At the end of a defined accounting period, federal government contractors must submit actual costs incurred to DCAA. The intention of this process is for DCAA to review costs claimed to ensure they are allowable, allocable, and reasonable per FAR 31, as well as within the terms of their respective contracts. DCAA will discuss requirements for the annual submission and what DCAA considers to be elements of an adequate submission. This training provides an overview of the DCAA Incurred Cost Electronic (ICE) model, which provides contractors with a standard user-friendly package to compile their financial data. DCAA will also discuss its adequacy review process and means of how they select submissions for audit. Why is briefing your contracts so important? Contract briefs are your “One Stop Shop” for all pertinent information, including contract provisions, clauses, requirements, allowability, funding, and so much more! DCAA will discuss the use of contract briefs in audits, reviewing vouchers, and the usefulness of contract brief information while monitoring your contract expenditures.
