Far Compliance
Securing government contracts can prove to be very lucrative for firms in a variety of industries, but qualifying for and complying with these types of contracts can be time consuming and confusing. R&A CPAs has extensive experience providing consulting and audit services for firms that perform federally funded work subject to the requirements of Federal Acquisition Regulations (FAR). By providing a clear roadmap for FAR compliance, R&A can assist with securing and maintaining federal contract compliance.
Federal Acquisition Regulations
Federal Acquisition Regulations are a series of regulations issued by the Federal government related to the requirements for contractors to sell to the government. The regulations cover the terms under which the government obtains ownership, title and control of the goods or services purchased, and rules on specifications, billing and contractor conduct. These regulations are complex and involved and the documentation and reporting requirements for compliance with Federal contracts can be overwhelming. Our professionals have the expertise and experience to streamline this process and ensure compliance with FAR.
Federal Acquisition Regulation Services
Our FAR assurance and consulting services include:
New Contractor Assistance
- Assistance with accounting system set-up and system review
- Consulting on project cost estimation
- Review of cost accounting systems to determine compliance with regulatory and contractual requirements
- Consulting on indirect cost rate structure
- Preparation for pre-award accounting system review
Existing Contract Assistance
- Review of internal controls to assess proper segregation of direct and indirect expenses, as well as allowable and unallowable expenses
- Determination of whether the methods used to allocate costs to cost objectives are equitable, and whether all reimbursable costs are being recovered.
- Preparation and review of Incurred Cost Electronic Model (ICE Model) proposals for submission to government auditors
- Preparation for, consultation during and developing responses to a Defense Contract Audit Agency audit
- Identification of the best reporting options for your firm in order to maximize revenue
Audit of Indirect Cost Rates for Engineering Firms/Consultants
- Audits in accordance with the American Association of State Highway and Transportation Officials (AASHTO) Uniform Audit & Accounting Guide 2010
Strategic Alliance
At R & A we have developed relationships with a number of important associations and organizations to help in the development and delivery of our FAR assurance and consulting services. One such organization is Summit Contract Management which is dedicated to helping inventors, entrepreneurs and small businesses work with local and federal government agencies. Summit Contract provides step-by-step guidance in government procurement from the management of new intellectual property to contract close-out, including proposal drafting and contract negotiation.
