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What Are The Cost Accounting Standards?

Capital Edge Consulting

Instead, the DCAA evaluates whether a contractors accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. These systems must be capable of accurately recording and reporting financial data in compliance with federal regulations.

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Procurement purchasing card perils: Will you be the next headline?

American City & Country

P-card abuse or misuse is an emerging and troubling trend and organizations need to improve their internal control systems to mitigate risk. While the benefits of a p-card program are significant, so are the risks of fraud and misuse, necessitating a robust internal control system.

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Security flaws in IRS systems pose risk to financial statements, GAO says

FedScoop

In its report , the congressional watchdog highlighted “new and continuing” shortcomings with information systems and the safeguarding of assets, issues that increase the likelihood of unauthorized access to sensitive IRS data. The security deficiencies also pose a threat of disruption to critical agency operations, the GAO warned.

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Retired four-star admiral faces 30 years in prison on bribery charges

Federal News Network

The roadmap also commits to adopting DevSecOps software practices, enterprise data architectures, and artificial intelligence at scale. The Defense Department is opening its doors to more companies as part of a new initiative called the Open Data and Applications Government-owned Interoperable Repositories. adversaries.

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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

3] TINA defines cost or pricing data to mean all facts that, as of the relevant date, a prudent buyer or seller would reasonably expect to affect price negotiations significantly. [4] 4] TINA is intended to “level the playing field” by providing Government negotiators the same cost or pricing data available to contractors.

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Reports of Internal Reporting at OpenAI Usher in Opportunity for Employees to Blow the Whistle

Whistleblower Network News

AI experts told Business Insider that it represents a symbolic leap from existing models, which have struggled to generalize outside the data they are trained on. Employees can anonymously raise concerns about false statements and internal control. AGI can generalize, learn, and comprehend.

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Navigating CSRD Regulation: What Procurement, Supply Chain, and Finance Leaders Need to Know

ivalua

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.