CPAs and Advisors with Your Growth in Mind

Government Contractors

Significant Proposed Changes to DFARS Business System Monitoring Requirements

On July 15, 2014, the Department of Defense (“DoD”) issued a proposed rule to amend the Defense Federal Acquisition Regulation Supplement (DFARS) on government contractor business system requirements. The comment period for the proposed change ended on September 15, 2014. The proposed rule requires that contractors begin annual self-evaluations and reporting on their accounting system, material management and accounting system (MMAS), and estimating system, for those contractors required to maintain approved systems in accordance with the DFARS business system requirements. In addition, a Certified Public Accountant (CPA) audit is required to be performed by an independent firm of the contractor’s. Read More.

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GSA Looks to Consolidate Professional Services Schedules

The General Services Administration (“GSA”) has announced its intention to consolidate Multiple Award Schedule (MAS) offerings over the next year. GSA has over 4,400 professional services contracts across eight different schedules. As we have reported in prior posts regarding GSA, the administration is looking for new ways to reduce its costs amid ever-growing budget shortfalls. In addition to cutting contracts who fail to meet the minimum sales requirements, GSA is looking to consolidate what it is now considering to be redundant schedules. According to GSA, there are approximately 527 contractors who hold more than one professional service schedule contract. These. Read More.

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Rule Updated on Whistleblower-Related Legal Costs

In June 2013, Cherry Bekaert notified you of coming changes to whistleblower protection laws for government contractors. Subcontractors were being given protection under whistleblower laws, and the Federal Acquisition Regulation (FAR) was amended at that time to generally not allow legal fees or other expenses related to whistleblower protection claims. This past July, multiple government agencies, the Department of Defense (“DoD”), General Services Administration (“GSA”), and National Aeronautics and Space Administration (“NASA”), finalized a rule to update FAR cost principle 31.205-47, related to the allowability of legal costs. The change implements a section of the National Defense Authorization Act 2013. Read More.

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GSA Leading the Charge for Reusing and Recycling Electronics

The General Services Administration (“GSA”) is reviewing comments on proposed regulations to reuse and recycle electronics. The proposed regulations identify a variety of methods for disposing of functional and nonfunctional electronics owned by federal agencies. Besides the obvious options of reusing them within the agency, transferring them to other agencies, or recycling them with certified recyclers, another option, which GSA has already begun using, is manufacturer take-back programs. The manufacturer take-back programs allow federal agencies to return used electronics to the original seller. In April 2014, Kevin Kampschroer, Deputy Senior Sustainability Official for GSA, reported to a Congressional committee on. Read More.

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David Farrell to Appear on Panel for XPX DC Metro Event

On September 10th in McLean, Virginia, Cherry Bekaert’s David Farrell is scheduled to participate on a panel of industry experts for the Exit Planning Exchange (“XPX”) DC Metro event, “Business Growth Strategies Sessions at XPX: Securing the Right Capital vs. Any ole’ Capital”. Farrell, a Principal with the Firm’s Transaction Advisory Services practice, and fellow panelists will begin the morning discussing the effect financing decisions can have on an owner’s business valuation , how to prepare for and what to expect when raising money, and the future ability of a business to raise additional funds. Guests will also be allowed to submit questions for panel discussion. Eddie. Read More.

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Another Delay for SAM?

System for Award Management (SAM) is a federal government database that will eventually combine the data from multiple databases or systems to provide a single portal for contractors, grantees, and federal agencies. In July 2011, eight systems were projected to be included in SAM by the end of 2014. Currently, only four systems, Central Contractor Registration (CCR), Online Representation and Certifications Application (ORCA), Excluded Parties List System (EPLS) and Federal Agency Registration (FedReg) have been combined. On July 31, 2014, the president issued an Executive Order (Order): Fair Pay and Safe Workplaces . It requires federal contractors submitting an offer for a contract of goods. Read More.

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