Author: Todd Fuja
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Our professionals have assisted clients in the preparation of proposals resulting in contract awards totaling over $30 billion.
Victura assists contractors to prepare and/or revise their Cost Accounting Standard Board Disclosure Statements (Form CASB-DS1). Our professionals assist Clients to navigate this form and avoid the common pitfalls in completing an adequate Disclosure Statement (DS).
Victura assists clients with identifying, defining and/or redesigning its Cost Accounting Structure using an approach that balances cost recovery and administrative burden with the corresponding compliance risks and Management’s risk tolerance.
Victura has years of experience in reviewing and/or preparing Incurred Cost Submissions (ICS) for clients in accordance with the “Allowable Cost and Payment” clause (FAR 52.216-7) requirements on an annual basis. Our team works closely with Clients to understand their unique cost rate structure and prepare timely and accurate submissions in accordance with their disclosed accounting practices.
Our professionals have extensive experience in assisting our clients to respond, rebut and mitigate the assertions made by the government (e.g. DCAA, OIG, etc.). Victura leverages its regulatory knowledge, experience with successful strategies, and our data analytic skills to prepare rebuttals that are well documented, supported and fact based.
Entering the federal government contract marketspace for the first time presents challenges to companies unlike any commercial market. Our professionals can guide new contractors through the complex regulations associated with doing business with the Federal Government, while mitigating risks and enhancing profitability.
Commonly referred to as the “Most Favored Customer” regulation, Victura leverages our regulatory expertise, practical business sense, and technology skills to effectively analyze large complex data and develop processes/strategies to help Federal Supply Schedule (FSS) contractors manage their compliance with the Price Reductions Clause (PRC).
Victura has developed proven strategies to leverage existing supply chain and procurement data to assist Federal Supply Schedule (FSS) contractors manage their compliance with the Trade Agreements Act (TAA).
Change orders in connection with federal government contracts are inevitable. Timely identification and quantification of the financial impact associated with contract change orders is critical to the successful and profitable performance of contracts. Victura assists clients with processes for identifying and managing the contract change order process, including preparation of Requests for Equitable Adjustments (REAs).
In the unfortunate event of a contract termination, Victura assists clients with the preparation of contract termination settlement proposals and/or claims. Victura also regularly assists clients in reviewing lower-tier subcontractor’s termination claims for compliance/adequacy. In conjunction with the client and / or the client's outside legal counsel, Victura will assist in the negotiation and resolution of the termination proposal / claim with the government.
For contractors’ subject to full coverage with the Cost Accounting Standards (CAS), it is inevitable that an accounting practice change will occur, which will necessitate the preparation of a Cost Impact Proposal to the Government. Victura assists clients in the preparation of Cost Impact Statements ranging from General Dollar Magnitude (GDM) impact to Detailed Cost Impact (DCI) (i.e., contract specific) calculations.
Victura can assist companies in assessing, enhancing, and maintaining business systems (i.e., accounting, materials management, property management, purchasing, estimating, etc.) to comply with DFARS requirements.
Victura assists with identifying, developing and implementing improvements and enhancements to our Clients’ accounting systems to meet the contract accounting and billing requirements imposed by the FAR and CAS.
Federal government contractors present unique business and compliance risks and exposures that a typical acquisition due diligence of a target company will not identify. Our team has the expertise to properly assess and evaluate the government contract related risks and exposures.
Health & Medical related spending by the Federal Government continues to increase. This presents opportunities for companies across the Health & Medical industry. We have assisted a broad array of companies in this industry including Health Insurers, Pharmaceuticals and Medical Device, Supplies & Equipment manufacturers to successfully obtain and perform Federal contracts.
The majority of total Federal procurement is now for services as opposed to products. The Federal Government is one of the largest consumers of Professional Services. For commercial organizations with little to no federal government contract experience, understanding the myriad of rules and regulations associated with federal contracts such as the Federal Acquisition Regulation (FAR) or Cost Accounting Standards (CAS) can be daunting.
Manufacturers are the traditional government contractors and increasingly face new and complex challenges for meeting the FAR and CAS accounting requirements with the shifting conversion from a labor based or manual intensive process to a highly automated manufacturing process with minimal labor requirements.