Incurred Cost Proposal Submission (ICP/ICE)

Overview

For over two decades, the Redstone GCI team has supported the preparation, review, and audit of Incurred Cost (ICS, ICES, ICP). Our experts prepare submissions for contractors who support many federal agencies and are proficient in the unique requirements for DOD, NIH, DOE, NASA, and many other agencies. Our team not only prepares but has a keen eye toward compliance risks pertaining to cost allowability, allocability, and cost reasonableness that often result in audit findings. We support over 100 incurred cost-related engagements every year, from preparation and adequacy reviews to audit and audit resolutions. We teach, write and train clients throughout the U.S. and Internationally on Incurred Cost-related topics and stay on the leading edge of emerging audit trends.

Services

• Incurred Cost Proposal Preparation – Preparing an ICP is a daunting task, so let us do it for you with consultants that are experienced in the preparation process and have proven success with adequacy determinations.
• Incurred Cost Proposal Requirement Determination – We review contract clauses to determine if an ICP is required and advise contractors on the best approach forward.
• Incurred Cost Proposal Adequacy Review – We not only review ICPs for adequacy, but we teach training on this topic to help contractors “get it right” the first time.
• Incurred Cost Proposal Deadline Extension – Things happen, and the ICP deadline can’t always be met. We help draft requests for extensions that meet the regulatory requirement.
• Support of Incurred Cost Proposal Audit – We support contractors through the long and challenging task of ICP audit, keeping the audit focused on avoiding unnecessary findings.
• Audit Findings and Penalties – We help respond to audit finding to minimize impact and ensure that penalties are calculated and applied correctly
• Final Rate Agreement – Just because you receive a final rate agreement letter doesn’t mean it is correct. Our review ensures the accuracy of the rates and the Cumulative Allowable Cost Worksheet (CACW) to support the final invoice.