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The FAR Survey provides a quick preliminary assessment of problem issues or concerns of management within the various areas covered by the survey such as:
- Cost Accounting Standards (CAS), including applicability, type of coverage, requirement for disclosure statements, cost accounting practice changes and cost impact proposals;
- FAR Part 31 Cost Principles and Procedures and related recovery of allowable costs, identification of unallowable costs and cost structure optimization;
- Truth-in-Negotiations Act (TINA) and your duties to disclose Cost or Pricing Data during proposal preparation and negotiations as well as defense against Defective Pricing in the event that required disclosures were omitted;
- Acquisition methods using negotiation, competition or commercial items along with the requirements for cost or pricing data, exemptions for adequate price competition and qualification of commercial items;
- Assessment of problem contracts and your ability to recover through equitable adjutsments your increased costs related to excessive customer inspection, interference, performance delays, or constructive changes in scope;
- Contract terminations or program cancellations;
- Protection of Data Rights, to name a few.
The survey typically involves 2 or 3 days of on-site field work analyzing data, reviewing documents and talking with key personnel about the issues of interest.
The field work is then followed with a letter report summarizing our findings, conclusions and recommendations, if any, with appropriate citations to applicable rules and regulatory requirements.
The FAR survey is a great way to get started in assessing government contract concerns. While it is not as robust as a full-scale compliance review, cost structure optimization or other more penetrating analyses, it provides an expert analysis in a short period of time in order to either confirm or assuage management's concerns and obtain a more reasoned solution to those concerns, if they actually exist.
The complex nature of government contracts often results in the basis of concern and its remedies being very different than what management may have feared. The survey tends to focus management on the correct issues for determining success as well as a better understanding of what might be required.