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New OCI Rule Contains Big Changes

SmallGovCon

It will also change the title of the part from Improper Business Practices and Personal Conflicts of Interest to Business Ethics and Conflicts of Interest. ” Use of “structural or behavioral barriers, internal controls, or both.” to a new subpart in FAR part 3.

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Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance

Public Contracting Institute

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.

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Season 11: Episode 2: FAR Facts

Public Contracting Institute

As we prepare for our 2nd episode of Season 11, here are a few FAR Facts for us to think about: Simply requesting a gift, gratuity, or anything of monetary value from a contractor who has or is seeking “Government business” with the employee’s agency will constitute a violation of the FAR’s gift regulations. FAR 3.101-2. FAR 52.203-13(c).The

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Voluntary Self-Disclosure of FCPA Violations Following Acquisition Avoids Corruption Charges

Government Contracts & Investigations

In February, the DOJ announced the latest iteration of its voluntary self-disclosure policy , outlining new incentives for companies to report corporate misconduct before an “imminent threat of disclosure or government investigation.” [2] 3] What is the FCPA? 3] What is the FCPA? The Foreign Corrupt Practices Act (“FCPA”) prohibits U.S.

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Criminal Enforcement Considerations for Gov’t Contractors

Government Contracts Legal Forum

Government contractors, in particular, operate in a highly complex regulatory environment and have additional motivations to detect and mitigate the risk of criminal liability. is a good example of the consequences faced by government contractors due to employee misconduct. million in kickbacks from subcontractors.

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Trump’s take on obscure law leaves contractors baffled

Federal News Network

And that piece says basically that companies or individuals can’t pay directly or indirectly government officials to get some sort of business benefit to win a contract. And that’s called the internal controls and books and records provisions, or what we call the accounting provisions.