Once a GSA or VA Schedule Contract is awarded, the U.S. government conducts annual reviews of contractor systems, records and documents to ensure compliance with all Federal regulations as part of their Contractor Assessment Initiative. They can also conduct detailed pre-award audits prior to contract award or granting GSA Schedule Contract extensions or in a post-award situation. Knowing what the focus of these reviews and audits are and conducting a preliminary review and evaluation will allow you to be totally prepared and confident of successful results. The government bureaucracy is complex and cumbersome to navigate and understanding the scope and breadth of these reviews and audits, as well as how to operate successfully under these constraints is important to maintaining high-quality performance results.
SharpMinds provides our clients with the experience and know-how needed to successfully “ace” these visits and audits. Whether it is the annual Contractor Assessment Initiative review conducted by an Industrial Operation Analyst (IOA) or a pre-award or post-award audit conducted by an agency’s Office of Inspector General (OIG), SharpMinds has the background and real-world experience to conduct an internal review prior to any visits or audits and help you determine the status of your records in compliance with Government regulations. We leverage our detailed knowledge and extensive experience with government contracting and GSA and VA Schedules to support and prepare you to successfully deal with all aspects of the review or audit process.
SharpMinds will conduct an internal review to cover all Contractor Assessment evaluation criteria to include:
- “Basis of Award” monitoring system
- Compliance with Scope of Contract
- Price List Accuracy
- Economic Price Adjustments and Modifications
- GSA Advantage! and e-library Accuracy
- 72A Industrial Funding Fee (IFF) Calculation & Reporting
- Administrative Compliance
- Delivery & Warranty Terms
- Teaming Arrangements & Blanket Purchase Agreements
- Participating Dealers
SharpMinds will also evaluate potential risk areas for Pre-Award and Post-Award Audits to include:
- Commercial Sales Practices and Discount Disclosures
- Price Reduction Clause Compliance
- Invoicing and Payment Procedures
- 72A Industrial Funding Fee Calculation & Reporting
- Trade Agreement Act Compliance
- Subcontracting and Size Standard Compliance
- E-Verify Employee Compliance
- Service Contract Act Compliance
As part of our review we provide clients with a detailed report of performance in each of the evaluated criteria areas. SharpMinds will then work with you to recommend any areas for improvement along with addressing any associated risks prior to your IOA visit or audit.
SharpMinds also provides compliance services and plans that will assist greatly with implementing internal control policies and procedures as your organization grows and standard processes for compliance become increasingly important. Please see our compliance services: GSA/VA Contract Compliance.