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.
Internal Control Related Topics 
NASA Taps Chiricahua-Logical JV for Operational, Institutional Support Services
ExecutiveBiz
NOVEMBER 1, 2023
NASA said Tuesday the Kennedy Operational and Institutional Support contract will encompass several services, including internal controls for property, logistics, American Sign Language interpreting, institutional training and development as well as export control support.
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Procurement purchasing card perils: Will you be the next headline?
American City & Country
OCTOBER 11, 2024
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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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.”
Security flaws in IRS systems pose risk to financial statements, GAO says
FedScoop
APRIL 26, 2024
IRS Commissioner Danny Werfel said in a letter responding to a draft version of the GAO’s report that the agency is “committed to implementing improvements dedicated to promoting the highest standard of financial management, internal controls, and information technology security.”
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International Trade Enforcement Roundup – August 2023 Update
GovCon & Trade
SEPTEMBER 8, 2023
In addition, the founders of a cryptocurrency service company called Tornado Cash were charged with sanctions and money laundering violations related to the company’s failure to implement appropriate internal controls. person” in the International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR).
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Leidos Appoints Rachel Willard as Finance VP, Dynetics CFO
GovCon Wire
NOVEMBER 20, 2023
She will oversee rate development and maintenance, accounting, internal controls, budgeting, forecasting, results analysis and other financial management functions for the company’s
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Key Grant Regulations You Need to Know to Stay Compliant and Avoid Penalties
Redstone Government Consulting
SEPTEMBER 11, 2024
When you receive a grant, you are expected to have internal controls in place such as policies and procedures, segregation of duties, timekeeping, documentation requirements, etc. If you do not have internal controls, you will need to implement them as soon as possible after award.
Paperless Innovations to Offer Actus Platform to Federal Agencies via MAS Contract Financial Management SIN
ExecutiveBiz
FEBRUARY 7, 2024
Paperless Innovations said Tuesday it has been awarded the Financial Management SIN under the MAS contract, allowing it to offer Actus to help federal government customers modernize and advance the digitization of their workflows, records management and internal controls.
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Aeyon to Provide Support Services for 3rd Marine Aircraft Wing Under New Contract; Jerry Copley Quoted
ExecutiveBiz
OCTOBER 20, 2023
Marine Corps to provide the 3rd Marine Aircraft Wing with financial management, logistics, internal controls and digital transformation services. Aeyon has booked a contract from the U.S.
What Are The Cost Accounting Standards?
Capital Edge Consulting
DECEMBER 5, 2024
Instead, the DCAA evaluates whether a contractors accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.
Whistleblower Receives $1.2 Million for Alleging Violations of FCC Rules
Whistleblower Network News
JULY 16, 2024
Alongside the civil settlement, Armstrong Group also entered into a comprehensive corporate compliance agreement with the Federal Communications Commission (FCC), which mandates that the corporation make significant improvements to its internal controls and implement thorough oversight and monitoring procedures.
Retired four-star admiral faces 30 years in prison on bribery charges
Federal News Network
JUNE 3, 2024
The PRAC said developing strong internal controls, that include validating self-certifying criteria and implementing a risk-based monitoring approach, were among the other traits of successful programs. The PRAC report details resources, reports, and other documents agencies can refer to as they further develop their funding programs.
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False Claims Act allegations leave two contractors with millions of dollars in fines
Federal News Network
JUNE 28, 2024
An examination of DOD’s struggling background check system - House Oversight and Accountability Committee ) For the first time in a decade, the Government Accountability Office is out with a proposed revision of federal internal controls. GAO has not updated the Standards for Internal Control in the Federal Government since 2014.
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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Reports of Internal Reporting at OpenAI Usher in Opportunity for Employees to Blow the Whistle
Whistleblower Network News
DECEMBER 1, 2023
Employees can anonymously raise concerns about false statements and internal control. Internal reporting becomes information valuable for enforcement action when brought to the correct agency even in cases of restrictive NDAs and company self-reporting under Dodd-Frank Whistleblower attorney Stephen M.
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Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance
Public Contracting Institute
JULY 8, 2024
To effectively identify unallowable costs: Develop a comprehensive chart of accounts Implement robust internal control systems Provide regular training to accounting staff Conduct periodic internal audits Our Masters Academy: Best Practices in Government Contracting offers invaluable insights into these best practices.
What new White House guidance on grants means for agencies that hand them out
Federal News Network
MAY 1, 2024
There are new whistleblower protections and new requirements for reasonable cybersecurity internal controls that seems to be like maple syrup covering everything the government is eating these days. So this is a good option for many of them. Tom Temin A couple of the provisions I wanted to make sure we covered.
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What is Enterprise BI? Everything You Need to Know
Capital Edge Consulting
SEPTEMBER 27, 2024
Instead, the DCAA evaluates whether a contractor’s accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.
Understanding the Importance of a DCAA Approved Accounting System
Capital Edge Consulting
AUGUST 28, 2024
Instead, the DCAA evaluates whether a contractor’s accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.
$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. One method is charging hours to something other than is actually being worked. This isn't that uncommon, unfortunately.
Season 11: Episode 2: FAR Facts
Public Contracting Institute
JANUARY 22, 2024
Small businesses are explicitly exempt from having to establish a “Business ethics awareness and compliance program and internal control system.” FAR 52.203-13(c).The
Taking Care of Business (Systems): DoD Proposes to Change the Definition of a Business System Deficiency
Government Contracts Legal Forum
JULY 10, 2024
The proposed rule would amend the Defense Federal Acquisition Regulation Supplement (DFARS) by replacing the phrase “significant deficiency” with the new defined term “material weakness,” to mean “a deficiency or combination of deficiencies in the internal control over information in contractor business systems, such that there is a reasonable possibility (..)
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.
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
Implement policies, procedures, and internal controls. Establish adequate policies, procedures, and internal controls. Gather documented policies, procedures, and internal controls for presentation to DCAA. 18] DCAA’s risk assessment includes both qualitative and quantitative components.
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SEC Whistleblower Office Posts Notice for 3M FCPA Case
Whistleblower Network News
OCTOBER 4, 2023
million to settle charges that it violated the books and records and internal controls provisions of the FCPA. 3M agreed to pay the SEC $6.5
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Facebook Whistleblower Details Meta’s Disregard for Teen Distress
Whistleblower Network News
NOVEMBER 15, 2023
In 2018, an anonymous whistleblower came forward that that Facebook is facilitating and profiting from illegal wildlife trafficking on its social media platform.
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New Professional Practice Guide (PPG) for Performing Incurred Cost Audits
PNWC's Government Contracting Update
DECEMBER 27, 2019
It did not include Chapter 3 which deals with internal controls. DCAA has now uploaded part of the the PPG to its public website. The Agency included only Chapters 1 and 2 plus Appendix A. The PPG has been publicly available for many months but has been buried in the Section 809's 600-page volume 3 final report.
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.
Application of CAS to Indefinite Delivery Vehicles (IDVs)
Capital Edge Consulting
SEPTEMBER 24, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Conformance of CAS to GAAP
Capital Edge Consulting
SEPTEMBER 24, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Conformance of CAS to U.S. GAAP for Operating Revenue and Lease Accounting
Capital Edge Consulting
SEPTEMBER 24, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
The Infrastructure Investment and Jobs Act - Summary
Capital Edge Consulting
SEPTEMBER 11, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
OMB’s 2 CFR 200 Updates 2024
Capital Edge Consulting
AUGUST 2, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Cost Accounting Standards Guide and CAS Requirements for Government Contractors
Capital Edge Consulting
SEPTEMBER 4, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Application of Cost Accounting Standards to Indefinite Delivery Vehicles
Capital Edge Consulting
AUGUST 23, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
The Infrastructure Investment and Jobs Act – Expanding Opportunities in the Federal Award Landscape
Capital Edge Consulting
AUGUST 14, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Cost Accounting Standards - What Contractors Need to Know
Capital Edge Consulting
AUGUST 14, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
OMB’s 2024 Updates to Uniform Guidance (2 CFR 200)
Capital Edge Consulting
AUGUST 14, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
The Truth Behind Truth in Negotiations Requests
Capital Edge Consulting
FEBRUARY 6, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
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Health and Human Services Contracting Officer’s Authorization (COA) Requirements
Capital Edge Consulting
JULY 2, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
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Health and Human Services Contracting Officer’s Authorization (COA) Requirements
Capital Edge Consulting
JULY 2, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
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ERP Implementation Risks and Mitigations
Capital Edge Consulting
JANUARY 19, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
Formation to Future: The CASB and the Role of the CAS Clause
Capital Edge Consulting
MARCH 20, 2024
The following are subject matter areas that represent critical timekeeping internal controls. DCAA Floor Check Interview Objectives There are many floor check questions that the DCAA auditor may ask an employee. What is Necessary to Satisfy DCAA Timekeeping Requirements?
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