MEMBER EVENT: FAR Part 31 Cost Principles Training Event

Government contracts invoke the unique cost principles contained in FAR (Federal Acquisition Regulations) Part 31.   These principles must be considered in certain (FAR Part 15) contract cost estimating as well as in cost reporting and billing.  Failure to comply with FAR Part 31 can result in the inability to recover costs incurred, potential penalties associated with the unallowable indirect costs and in the worst case scenario, investigations leading to treble damages under the False Claims Act.  In our updated FAR 31 seminar, we will identify and discuss the types of costs which are typically challenged including the developing trends for government contract audits (DCAA) with a particular focus on after-the-fact cost allowability challenges stemming from audits of indirect cost rate proposals. Our seminar will address potential issues involving direct and indirect costs.