New Rule Prescribes Data Required for Adequate Final Indirect Cost Rate Proposal
Client Alert | 1 min read | 06.02.11
On May 31, 2011, the FAR Council published a final rule governing contract closeout requirements, including the identification of a long list of data items required for a final indirect cost rate proposal to be found "adequate," as well as additional types of data that the government can request to supplement a proposal; clarification of the division of duties between the CO and auditors with respect to auditing and finalizing the proposal; and the requirement that mandatory withholdings be exacted by the CO for contractors who fail to timely submit an adequate proposal. While the rule does not require that proposals be submitted using any particular format in order to qualify as "adequate," it remains unclear what will happen in individual cases if DCAA refuses to commence an audit because the contractor declines to provide the burdensome cost schedules required by the DCAA "model" format.
Insights
Client Alert | 8 min read | 07.16.25
In our first alert in this weekly series on the EU Pharma Package we provided some important background and general information about the status of the Pharma Package and how the trilogues work, and in the second alert we discussed the proposed changes to regulatory data protection.
Client Alert | 2 min read | 07.15.25
Client Alert | 10 min read | 07.15.25
Fueling The Future: Understanding The EU’s Clean Industrial Deal State Aid Framework (CISAF)
Client Alert | 5 min read | 07.14.25
The European Commission issues competition guidance in the transport sector
