Assignment 1: Contracting and the FARAccording to the text, the Federal Acquisition Regulation (FAR) is a body of law that governs U.S. Federal Government’s procurement process. The FAR is prepared, issued and maintained under the joint command of the Secretary of Defense, the Administrator of General Services Administration (GAO) and the Administrator of the National Aeronautics and Space Administration. You may visit Acquisition Central’s Website to obtain additional information regarding the Federal Acquisition Regulation (FAR).Imagine that you are a contracts officer for the Internal Revenue Services, and that your supervisor has tasked you with the procurement of a new software system for processing tax returns. Use the Internet to research one (1) scandal related to government procurement that has occurred within the past four (4) years.Write a two to three (2-3) page paper in which you:Analyze the FAR, and conclude whether or not these regulations overall offer adequate protection of the collective buying power of the American people. Prepare an argument in support of your position.Based on the scandal that you have researched, determine whether or not the executive branch is the proper one to effectuate change that would provide checks and balances for the purchase of good and services for the government. Provide a rationale for your answer.Use at least three (3) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Describe the legal and administrative framework and socio-economic considerations of the federal procurement process.Identify and apply the appropriate Federal Acquisition Regulation (FAR) clauses to meet compliance in contracting actions and dispute resolution requirements.Use technology and information resources to research issues in procurement and contract law.Write clearly and concisely about procurement and contract law using correct grammar and mechanics.
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