U.S. Government Contract Risk Assessments
How is a Gap Analysis Performed?
RKI identifies the risks applicable to your current and/or anticipated U.S. Government contracts. Those risks are born out of:
– Terms and conditions of your contracts and soliciations including Federal Acquisition Regulation (FAR), DFARS
– Laws and regulations including Cost Accounting Standards (CAS), Truthful Cost or Pricing (formerly Truth in Negotiations Act “”TINA)””, Foreign Corrupt Practices Act (FCPA), and similar
– Defense Contract Audit Agency (DCAA) Audit Reports and Audit Programs
– Our experience in the industry from recent audits with similar contractors
RKI then tailors a Gap Analysis program to those risks and performs data analysis and personnel walkthroughs of relevant current state practices to identify gaps. All gaps are assigned a risk and materiality level with recommended corrective or implementation efforts. Most gap analyses include a:
– Executive summary
– List of gaps with recommended actions to serve as a project management/implementaiton tool for management to resource and schedule against
An evaluation of a contractor’s current state practices against its current or anticipated U.S. Goernment contract requirements.
To identify gaps in current state practices that are non-compliant in demonstrating compliance with contractual requirements and establish a project/implementation plan to address those gaps, where applicable. They also serve to identify best practice opportunities for a contractor to consider, including alternative procedures, resourcing, and/or technologies to aid in their compliance obligations.