Recorded on 09/07/23

Description:

This session delves into practical considerations for Prime Contractors and subcontractors. It explores what a contract flowdown is, what should be flowed down, and most importantly to whom a flowdown should be flowed down to. While the answer to all three questions is seemingly straight forward, the application is a bit more complex. We will highlight the importance of a contractor’s own policies and procedures being a key driver to answering all three questions, discuss regulatory ambiguity that, if not considered, can lead to self-inflicted wounds, and discuss best practices and takeaways that participants can take back to their organizations and put into practice almost immediately.

Contract flowdowns are an essential part of everyday business for Government contractors and a copy and paste approach from the prime contract to the subcontract does not meet the intent of flowdowns and opens up contractors to risk. This session will discuss the importance of understanding the concept and intent of flowdowns to help contractors reduce their exposure and meet the requirements of their prime contracts.

Level of Difficulty: Intermediate

CMBOK Competencies:

• B.5 Risk Management
• 1.4 Regulatory Compliance
• 4.3 Manage Subcontracts

Presenters:

Alex Mikhelson, CPA, Director, BakerTilly