CPAs and Advisors with Your Growth in Mind

DoD Proposes Changes to Cost or Pricing Data Rules for Small Businesses

On August 30, the Department of Defense (“DoD”) issued a proposed rule to implement a section of the National Defense Authorization Act for fiscal year 2016 that provides exceptions from the certified cost and pricing data requirements, and from the records examination requirement for certain awards to small businesses or nontraditional defense contractors. The proposed rule would amend the Defense Federal Acquisition Regulation Supplement (“DFARS”) to provide an exception from cost or pricing data for contracts, subcontracts, or modifications of contracts or subcontracts valued at less than $7.5 million. This exception would be applicable to small businesses or “nontraditional” defense contractors,. Read More.

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Expanding the SBA Mentor-Protégé Program

On July 25, 2016, the Small Business Administration (“SBA”) issued a much-anticipated final rule regarding the government-wide mentor-protégé program for small businesses. All small businesses, not only 8(a)s, will now be able to participate in the mentor-protégé program. The changes will benefit both large and small businesses. Large businesses will now have a larger pool of small businesses to mentor, and additional disadvantaged companies now have the opportunity to participate. The rule specifically states that the mentor-protégé program will now have four new programs: Small businesses; Women-owned small businesses; Service-disabled, veteran-owned small businesses; and Historically Underutilized Businesses. Other notable changes. Read More.

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Next PCAOB Small Business Forum Set for Thursday

Next PCAOB Small Business Forum Set for Thursday Scheduled for Thursday, the Public Company Accounting Oversight Board (“PCAOB”) will hold its next forum on “Auditing in the Small Business Environment.” Taking place in New York City, the event is part of the PCAOB’s 2014 series on small business forums , and offers PCAOB members and staff the chance to hear comments and questions from auditors. Updated annually, the forum’s agenda shares essential information regarding the PCAOB’s activities with registered accounting firms that audit public companies operating in the small business community. Thursday’s agenda will feature information such as enforcement and U.S. Securities and Exchange Commission updates, the latest on. Read More.

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SEC Orders Start of Tick Size Program for Stock Exchanges

Answering feedback from various small companies, brokerage firms and venture capitalists, the U.S. Securities and Exchange Commission (“SEC”) has ordered stock exchanges and the Financial Industry Regulatory Authority (“FINRA”) to start a pilot program for trading stocks from 900 small businesses. Announced in Release No. 34-72460, Order Directing the Exchanges and the Financial Industry Regulatory Authority to Submit a Tick Size Pilot Plan, the test is in response to requests for higher stock price increments. Supporters say increased stock price increments would boost trading volume and investor interest in small cap stocks. Hoping to run the program for a year, the. Read More.

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