DHS to Recompete Internal Control Assessment Support BPA
GovCon Wire
DECEMBER 18, 2023
The Department of Homeland Security plans to recompete a multiple-award, blanket purchase agreement for internal control assessment support services.
Small Business Reality vs. DCAA Accounting System Expectations
Redstone Government Consulting
OCTOBER 14, 2024
Every small business that receives a Federal Government cost reimbursable contract is expected, by the Defense Contract Audit Agency (DCAA), to have a “sound internal control environment, accounting framework, and organizational structure.”
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Paperless Innovations to Offer Actus Platform to Federal Agencies via MAS Contract Financial Management SIN
ExecutiveBiz
FEBRUARY 7, 2024
Federal agencies can now buy Actus , a cloud-based government purchase card management platform from Paperless Innovations , using a special item number under the General Services Administration’s Multiple Award Schedule contract.
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NASA Taps Chiricahua-Logical JV for Operational, Institutional Support Services
ExecutiveBiz
NOVEMBER 1, 2023
Chiricahua-Logical Joint Venture will provide operational and institutional support for NASA-affiliated sites under a potential $20 million indefinite-delivery/indefinite-quantity contract.
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Aeyon to Provide Support Services for 3rd Marine Aircraft Wing Under New Contract; Jerry Copley Quoted
ExecutiveBiz
OCTOBER 20, 2023
Aeyon has booked a contract from the U.S. Marine Corps to provide the 3rd Marine Aircraft Wing with financial management, logistics, internal controls and digital transformation services.
What is Enterprise BI? Everything You Need to Know
Capital Edge Consulting
SEPTEMBER 27, 2024
In government contracting, maintaining a DCAA-approved accounting system is crucial. The Defense Contract Audit Agency (DCAA) enforces strict guidelines to ensure that contractors’ accounting systems meet the standards required for compliance. Importance of maintaining compliance with DCAA for government contracts.
Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance
Public Contracting Institute
JULY 8, 2024
Introduction to CAS 405 and Unallowable Costs In the complex world of government contracting, understanding and properly accounting for unallowable costs as per Cost Accounting Standard (CAS) 405 is crucial for success. The Importance of Proper Cost Allocation Proper cost allocation is the cornerstone of successful government contracting.
Understanding the Importance of a DCAA Approved Accounting System
Capital Edge Consulting
AUGUST 28, 2024
In government contracting, maintaining a DCAA-approved accounting system is crucial. The Defense Contract Audit Agency (DCAA) enforces strict guidelines to ensure that contractors’ accounting systems meet the standards required for compliance. Importance of maintaining compliance with DCAA for government contracts.
Health and Human Services Contracting Officer’s Authorization (COA) Requirements
Capital Edge Consulting
JULY 2, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
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Health and Human Services Contracting Officer’s Authorization (COA) Requirements
Capital Edge Consulting
JULY 2, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
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Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts
Capital Edge Consulting
MAY 10, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
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Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)
Government Contracts & Investigations
SEPTEMBER 25, 2023
We just completed two articles on the Truth in Negotiations Act (TINA) [1] and, before that, two articles on Defense Contract Audit Agency (DCAA) audits. 5] Based on inter-agency agreements, this program includes contracts awarded by certain non-DoD agencies as well as DoD contracts. [6]
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False Claims Act allegations leave two contractors with millions of dollars in fines
Federal News Network
JUNE 28, 2024
The companies failed to meet cybersecurity requirements in contracts intended to ensure a secure environment for low-income New Yorkers to apply online for federal rental assistance during the COVID-19 pandemic. GAO has not updated the Standards for Internal Control in the Federal Government since 2014. Guidehouse paid $7.6
Taking Care of Business (Systems): DoD Proposes to Change the Definition of a Business System Deficiency
Government Contracts Legal Forum
JULY 10, 2024
The clauses allow the government to temporarily withhold payment on a covered contract if a significant deficiency in a business system is identified. The post Taking Care of Business (Systems): DoD Proposes to Change the Definition of a Business System Deficiency appeared first on Government Contracts Legal Forum.
Season 11: Episode 2: FAR Facts
Public Contracting Institute
JANUARY 22, 2024
The Anti-Kickback Act is a special “bribery” statute that involves a subcontractor giving “something of monetary value” to a prime contractor for the purpose of receiving “favorable treatment” in connection with a federal government prime contract. FAR 52.203-13(c).The FAR 52.203-13(c).The
What new White House guidance on grants means for agencies that hand them out
Federal News Network
MAY 1, 2024
Interview Transcript: Tom Temin Dan, the uniform guidance is a little bit outside of FAR and contracting concerns. And increasingly, the federal grant in assistance space is becoming subject to more requirements that start to look like government contracts. But yet, something you felt is important to highlight here.
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The Cost Corner: Government Contracts Cost and Pricing – Compensation for Personal Services (Part I)
Government Contracts & Investigations
FEBRUARY 29, 2024
The current topic is Federal Acquisition Regulation (FAR) Cost Principles applicable to contracts with commercial organizations. 31] Thus, implementing and documenting adequate internal controls for determining compensation can significantly reduce audit risk. 1] This definition is quite broad.
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Retired four-star admiral faces 30 years in prison on bribery charges
Federal News Network
JUNE 3, 2024
62-year-old Robert Burke, a retired four-star admiral, is facing up to 30 years in prison for an alleged scheme to steer a government contract to a company in exchange for future employment. The PRAC report details resources, reports, and other documents agencies can refer to as they further develop their funding programs.
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Application of CAS to Indefinite Delivery Vehicles (IDVs)
Capital Edge Consulting
SEPTEMBER 24, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
Conformance of CAS to GAAP
Capital Edge Consulting
SEPTEMBER 24, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
Conformance of CAS to U.S. GAAP for Operating Revenue and Lease Accounting
Capital Edge Consulting
SEPTEMBER 24, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
$100 Thousand Overpayment Resulting from 'Alleged' Timecard Fraud
PNWC's Government Contracting Update
DECEMBER 10, 2019
It usually involves the cooperation of management at some level and a breakdown in internal controls designed to keep that from happening. Having employees charge time to a cost-type contract when they are really working on a fixed-price contract is one example. This isn't that uncommon, unfortunately.
Navigating CSRD Regulation: What Procurement, Supply Chain, and Finance Leaders Need to Know
ivalua
JUNE 11, 2023
Internal Control Systems: Finance leaders will be responsible for establishing robust internal control systems to ensure the accuracy, reliability, and consistency of sustainability reporting data.
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The Infrastructure Investment and Jobs Act - Summary
Capital Edge Consulting
SEPTEMBER 11, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
Cost Accounting Standards Guide and CAS Requirements for Government Contractors
Capital Edge Consulting
SEPTEMBER 4, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
OMB Final Rule Rewrites the Uniform Guidance for Grants, Cooperative Agreements, and Other Federal Financial Assistance
Government Contracts Legal Forum
APRIL 30, 2024
Additions to the Post-Award Requirements Regarding Sourcing 2 CFR 200.317 allows Tribal Government recipients to use their own internal procurement standards rather than complying with federal procurement standards prescribed in 2 CFR 200 200.318 through 200.327. View the full article
Application of Cost Accounting Standards to Indefinite Delivery Vehicles
Capital Edge Consulting
AUGUST 23, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
The Infrastructure Investment and Jobs Act – Expanding Opportunities in the Federal Award Landscape
Capital Edge Consulting
AUGUST 14, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
Cost Accounting Standards - What Contractors Need to Know
Capital Edge Consulting
AUGUST 14, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
OMB’s 2024 Updates to Uniform Guidance (2 CFR 200)
Capital Edge Consulting
AUGUST 14, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
OMB’s 2 CFR 200 Updates 2024
Capital Edge Consulting
AUGUST 2, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
DCAA Releases FY2023 Report to Congress
Capital Edge Consulting
JUNE 13, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
The FY2024 NDAA and its Nexus to the FAR and DFARS
Capital Edge Consulting
APRIL 10, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
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Formation to Future: The CASB and the Role of the CAS Clause
Capital Edge Consulting
MARCH 20, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
The Truth Behind Truth in Negotiations Requests
Capital Edge Consulting
FEBRUARY 6, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
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ERP Implementation Risks and Mitigations
Capital Edge Consulting
JANUARY 19, 2024
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
NITAAC obtains 801 Certification: DoD Assisted Acquisitions Now Much Easier
NIH NITAAC
MAY 5, 2022
Section 801 provides guidance on the “procurement policies, procedures, and internal controls” that must be followed to assure compliance with defense procurement requirements, particularly for a nondefense agency when it is performing an assisted acquisitions to procure supplies and services on behalf of the DoD.
Ensuring Compliance with New SBA Requirement for Inclusion of Indirect Costs
Capital Edge Consulting
SEPTEMBER 22, 2023
Labor is among the largest contract cost recorded to Government contracts. and determining whether adequate timekeeping practices and controls related to timekeeping are in place and working properly. Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract. What does DCAA Stand for?
New Professional Practice Guide (PPG) for Performing Incurred Cost Audits
PNWC's Government Contracting Update
DECEMBER 27, 2019
The Section 809 Panel, with the help of DCAA (Defense Contract Audit Agency) and others, drafted a Professional Practice Guide (PPG) to develop a risk assessment framework intended to 'manage' DoD's risk and materiality approaches to incurred cost audits. It did not include Chapter 3 which deals with internal controls.
Criminal Enforcement Considerations for Gov’t Contractors
Government Contracts Legal Forum
AUGUST 9, 2024
2] Schneider Electric held federally funded energy-savings performance contracts, under which its employees fraudulently charged the government for prohibited design costs disguised as allowable unrelated pricing components. Internal reporting and a “see something, say something” culture are key to any effective compliance program.
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Procurement and the AI EO — Helping federal CAIOs navigate the path ahead
Great Government Through Technology
NOVEMBER 29, 2023
You’ll also compile inventories, evaluate products, influence workforce development, prioritize projects, remove barriers, document use cases , assess performance, implement internal controls, and ensure your agency’s AI efforts comply with a host of existing laws and policies. Time to prioritize That is a big to-do list!
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Enhanced Review by the Department of Energy’s Office of Inspector General into the Loan Programs Office Poses Increased Risks to Loan Program Applicants
Government Contracts Legal Forum
AUGUST 9, 2024
The post Enhanced Review by the Department of Energy’s Office of Inspector General into the Loan Programs Office Poses Increased Risks to Loan Program Applicants appeared first on Government Contracts Legal Forum. View the full article
Ernst presses SBA for details of 7(a) lender approval
Federal News Network
OCTOBER 29, 2024
According to Contreras, SBA reviewed the company’s internal control policies, lending policies and procedures, organizational structure, management structure and business plan. Among her questions, Ernst is asking SBA to provide documentation supporting its approval of ALC as a 7(a) lender.
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