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FEMA Unveils Plans for Financial, IT Internal Controls Support Contract

GovCon Wire

The Federal Emergency Management Agency has announced plans to conduct a competition for a contract to provide financial, internal controls, IT audit and assessment services for FEMA’s Office of the Chief Financial Officer, or OCFO, Risk Management and Compliance Division.

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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. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.

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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. office of UHY Advisors Inc.

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Paperless Innovations to Offer Actus Platform to Federal Agencies via MAS Contract Financial Management SIN

ExecutiveBiz

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

FedScoop

“The continuing control deficiencies related to transaction cycles increase the risk of financial statement misstatements,” the GAO said in its report. IRS mitigated the potential effect of these control deficiencies primarily through compensating controls that management designed to help detect potential financial statement misstatements.”

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International Trade Enforcement Roundup – August 2023 Update

GovCon & Trade

sanctions on Iran after a whistleblower brought the violations to the attention of management. 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.

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New OCI Rule Contains Big Changes

SmallGovCon

.” Mitigation techniques can include things like Using a team member to perform some portion of work but there must be “controls to ensure that the entity with the organizational conflict of interest has no input or influence on how the party without the organizational conflict of interest performs the work.”