A much-needed reset: rethinking third party risk

Our recent episode of the Fed Talks podcast discusses the recent changes to the Department of Defense's Cybersecurity Maturity Model Certification: CMMC 2.0. On this episode of Fed Talks, we discuss the recent changes to the Department of Defense’s Cybersecurity Maturity Model Certification (CMMC) with subject matter specialist Matt Gilbert. Questions addressed include:-What is CMMC 2.0 and what are some of the key features of this new model?-How does the removal of the process requirement affect contractors?-What should contractors do today as they await additional guidance on CMMC 2.0?

On our second installment of our Fed Talks miniseries: But why?, we discuss the purpose of incurred cost proposals (ICPs) with Baker Tilly subject matter specialist Drew Lewis. Questions addressed include:  • What is an ICP and when are contractors required to prepare them?  • How can contractors ensure that submitting an ICP is as simple as possible?  • What types of changes are expected to be made to the ICP process?  

Our most recent episode of the Fed Talks podcast discusses new policy directives related to supply chain risk management.On this episode of Fed Talks, we explore how new policy directives related to supply chain risk management (SCRM) are challenging federal contractors to adapt their legal strategies, with special guest Alex Canizares from Perkins Coie, and Baker Tilly subject matter specialists, Jeff Clayton and Leo Alvarez. Questions addressed include:• What is the nexus between SCRM and DoD’s Cybersecurity Maturity Model Certification framework?• What are effective approaches to managing disputes and/or False Claims Act risks as it relates to SCRM or cyber related attestations?• How will the Biden Cybersecurity Executive Order impact federal contractors?

Our most recent episode of the Fed Talks podcast discusses the costs of varying levels of cybersecurity maturity model certification. We play a game of “headline or clickbait” with subject matter specialists Matt Gilbert and Joe McCaffrey to discuss the costs of varying levels of cybersecurity maturity model certification (CMMC) compliance. Questions addressed include:• Are the DoD’s estimated CMMC cost figures reasonable?• How should contractors treat and allocate the costs associated with CMMC?• Will CMMC costs incurred prior to winning a contract requiring CMMC be questioned?• What can contractors do to minimize the costs associated with CMMC?

On this episode of Fed Talks, we discuss the growing importance of supply chain risk management (SCRM) in federal procurement with Baker Tilly subject matter specialists, Jeff Clayton and Leo Alvarez. Questions addressed include:• What is SCRM and why now?• How is SCRM affecting federal acquisitions?• How is the use of all-source intelligence platforms (“supply chain illumination”) changing risk governance?

On this episode of Fed Talks, we discuss the top 10 costs contractors are forgetting to include in their termination settlement proposals with Baker Tilly partner Noah Leiden and special guest John Prairie, a partner at Wiley Rein LLP. Questions addressed include: What are government terminations and when do they occur?Why are government terminations a timely topic in 2021?What are the types of costs that government contractors often forget to include in their termination settlement proposals?

On our recent episode of the Fed Talks podcast we discuss the importance of test automation for government contractors. On this episode of Fed Talks, we discuss test automation with Baker Tilly principal Kevin Brandt.Questions addressed include:What is test automation and why is it important?What are examples of how test automation is used and what are the potential benefits?Are there concerns companies have about using test automation?

Government contracting specialist Drew Lewis joins our most recent episode of the Fed Talks podcast to discuss the purpose of contractor business systems. On the inaugural installment of our new Fed Talks miniseries, "But why?," we discuss the purpose of contractor business systems with Baker Tilly subject matter specialist Drew Lewis. Questions addressed include:What are contractor business systems and why are they emphasized today?How relevant and useful are business system rules and why are contractors required to comply with them?Are there other tools the government can use besides business systems to ensure federal funds are being spent appropriately?

So, you want to be a government contractor? On this episode of Fed Talks, we play a game of ‘Fact or Fiction’ with subject matter specialists Matt Danner and Rachelle Jackson to comment on common concerns companies have when considering contracting with the Federal Government. Questions addressed include: -Does the government require advance approval for contractors for their subcontract arrangements?  -Will working with the government mean making sweeping changes to a company’s accounting system? -Is there opportunity for reasonable profit in government contracting?

On this episode of Fed Talks, we discuss the impact of COVID-19 on Service Contract Act (SCA) contractors with Baker Tilly’s Jennifer Flickinger and subject matter specialist Rachelle Jackson. Questions addressed include:  -How has COVID-19 affected contractors with SCA contracts?  -How have the health and welfare (H&W) component costs of employee compensation changed due to COVID-19?  -What steps should contractors take to be successful in this new environment?