Contact: Erin Barrow
301-832-8286
ebarrow@milcorp.com
MIL Succeeds in Passing Contracting Purchasing System Review Audit
BOWIE, Md.—Feb. 14, 2019—The MIL Corporation (MIL), a mid-sized government contractor, is pleased to announce it has passed its Contracting Purchasing System Review (CPSR) audit on Feb. 9, 2019. A CPSR analyzes how contractors spend government funds and comply with government policy when subcontracting.
At the conclusion of the audit, MIL was notified that its purchasing system was determined to be acceptable in accordance with the terms and conditions of DFARS 252.244-7001. This successful outcome allows MIL to reduce government transactional oversight, limits notification or consent requirements, reduces cycle time, and ultimately, increases contract opportunities.
“Our contracts and procurement team, in concert with the accounting department, worked tirelessly over the past two years to ensure MIL’s CPSR success,” said MIL President and CEO, Maurice I. Long, Jr. “Perhaps most remarkable is the fact that our team passed the audit on the first attempt – this achievement is only met by about three percent of organizations!”
A positive CPSR audit requires the development of an approvable purchasing system, including written policies and procedures to address the 24 DFARS criteria and 40 item DCMA checklist. This process involves complex interdepartmental cooperation, attention to detail, and refining and improving current accounting practices.
During the audit, CPSR auditors review a year’s worth of procurement files. Items under scrutiny include: the degree of price competition obtained; pricing policies and techniques; processes for planning, award, and management of major subcontracts; appropriate flow-down clauses; appropriateness of types of contracts in use; methods of evaluating subcontractor responsibilities; and policies and procedures pertaining to small business subcontracting programs.
MIL has been a fixture in the federal government contracting space for nearly 40 years, working to provide cyber, engineering, financial, and information technology services and support.
About MIL
The MIL Corporation (MIL), a CMMI® Level 3 rated company established in 1980, provides federal agencies with outstanding professional services in the areas of financial management, information technology, engineering, and cybersecurity. With a staff of over 730 professionals, MIL provides innovative solutions to federal government customers, including the U.S. Departments of the Navy, Commerce, State, Homeland Security, and Transportation. MIL continuously seeks to provide solutions that fit the vision, requirements, and resources of our valued customers. For more information, please visit: www.milcorp.com.