TEMPE, Ariz.--(BUSINESS WIRE)--KinetX Aerospace today announced it has successfully met several key milestones that ensure its accounting systems meet necessary regulations and compliance for federal contracts. Through its successful completion of a Defense Contract Audit Agency (DCAA) cost accounting system audit, KinetX Aerospace has achieved compliance with Federal Acquisition Regulation (FAR) requirements and has received the DCAA's important Adequacy determination.
The DCAA accounting system Adequacy determination indicates that the KinetX Aerospace cost accounting system is adequate for accumulating and billing costs under government contracts and is suitable for the award of prospective federal cost type contracts.
Achieving the DCAA Adequacy determination will enable KinetX Aerospace to remain compliant with the myriad of U.S. federal government cost accounting standards that are incorporated into the FAR, while seeking and maintaining important government contracts. FAR requirements and DCAA determinations work to ensure accurate government contract accounting and help to protect agencies and taxpayers against federal contract accounting fraud.
“KinetX Aerospace leadership had the vision and determination to put the necessary personnel, resources and processes in place to support the stringent FAR requirements for an accounting system and to be able to sustain an adequacy audit by the DCAA,” said Susan Dater, KinetX Aerospace chief financial officer. “The Adequacy determination will open many doors for KinetX Aerospace, and provides KinetX Aerospace another advantage in successfully competing for government contracts.”
"KinetX Aerospace is pleased to have successfully demonstrated our capabilities in complying with the requirements outlined in the FAR and in attaining the favorable accounting system determination," said R. Glenn Williamson, KinetX Aerospace president and CEO. "By obtaining this determination, KinetX Aerospace has demonstrated the ability to create and maintain consistent and compliant cost accounting practices."
For more information on KinetX Aerospace’s Systems Engineering solutions for aerospace, defense, and communications systems or its Space Navigation and Flight Dynamics (SNAFD) team that specializes in the navigation of earth orbiting and deep space missions, please visit: www.kinetx.com or call us at 480.829.6600.
About KinetX Aerospace
KinetX Aerospace is an innovative engineering, technology and business consulting firm providing complete systems solutions for commercial and government markets. Specializing in aerospace systems, its engineers have an established track record of problem solving utilizing techniques that border on the forefront of technology. With a well-earned reputation for applying and integrating business applications, KinetX Aerospace has consistently increased client revenue, reduced costs and accelerated timelines. KinetX Aerospace is AS9100 REV. C, ISO9001:2008 and CMMI Level 3 certified. KinetX Aerospace also maintains a DCAA compliant cost accounting system.
KinetX Aerospace is the first commercial entity to provide spacecraft navigation services for NASA interplanetary missions and is currently providing similar mission design and navigation services for three NASA missions: the MESSENGER mission that is currently orbiting the planet Mercury, the New Horizons mission that is on its way to fly past Pluto in 2015, and the newly selected OSIRIS-REx mission that will return to Earth a sample from asteroid RQ36.
KinetX Aerospace is a privately held company headquartered in Tempe, Arizona, with additional offices in Simi Valley, California, and other employees located in Colorado and Virginia. It continues to build on the original goal of being a flexible, innovative company focused on what it does best - solving engineering challenges.