Course: Proposed Rule on Profits and Related Basis Adjustments based on this document from the Federal Register: https://www.govinfo.gov/content/pkg/FR-2024-12-02/pdf/2024-27227.pdf This document contains proposed regulations regarding previously taxed earnings and...
DFARS Amendments: Defining Material Weakness in Contractor Systems
This course offers a comprehensive guide on the new DFARS amendments, focusing on the definition and implications of ‘material weakness’ in contractor business systems. Learn how these changes affect compliance requirements, the responsibilities of contracting officers, and the potential consequences of non-compliance, including system disapprovals and payment withholdings.
In this course you will learn the following:
* Understand the definition and implications of “material weakness” in contractor business systems.
* Identify the key requirements and procedures for compliance with the new DFARS rule.
* Recognize the roles and responsibilities of contracting officers and contractors in addressing material weaknesses.
* Comprehend the consequences of non-compliance, including payment withholdings and system disapprovals.
Additional information
| Federal Register Title | Defense Federal Acquisition Regulation Supplement: Definition of Material Weakness (DFARS Case 2021-D006). Document Number: 2025-00721 |
|---|---|
| Course SKU | FR-25-515-1 |
| Why This Course Is Important | Without this course, learners risk non-compliance with DFARS regulations, leading to financial penalties and disapproved contractor business systems. |