Government Compliance

Federal government contractors work hard to secure their funding and must continue to work hard to keep it.  They must comply with extensive and complex government regulations or else risk potentially losing or delaying their contract or grant.  Compliance, however, is a challenge for new entrepreneurs and established contractors alike as they often do not have the required expertise in-house or the time to handle it as they focus on the development and delivery of their product or service.

To alleviate the stress of compliance, iConnetGreen works to ensure contractors meet the federal government’s standards so they can continue to thrive.  Our team of professionals is specifically trained in government contract accounting…an area of expertise that goes beyond traditional accounting and addresses the needs of contractors who must follow rules that commercial businesses do not.

We meet government contractors’ needs both pre-award and post-award.  This includes assistance with accounting system compliance, incurred cost submissions (ICS), Federal Acquisition Regulation (FAR) consulting and Defense Contract Audit Agency (DCAA) audits.  Our services include:

 Accounting Systems

  • Set up or review accounting systems to comply with contractual obligations, to include cost accumulation and allocations
  • Modify existing financial accounting systems to provide adequate controls in a job order or standard cost system, to monitor contracts
  • Assist contractors in maximizing revenues by applying the most advantageous overhead cost structure
  • Propose new or improved internal cost controls and establish a systematic ongoing program for monitoring the system
  • Evaluate Company policies and procedures to meet government regulations

 Contract Audit

  • Prepare forward pricing, historical cost submissions and incurred cost submissions (ICS)
  • Assist contractors and serve as liaison with Defense Contract Audit Agency (DCAA) representatives and other cognizant government auditors
  • Pre-award, post-award and accounting systems audits
  • Prepare cost-impact proposals
  • Negotiate direct cost and overhead audit findings with cognizant government auditors
  • Compliance audits in accordance with Yellow Book/A-133 requirements

Technical Assistance

  • Evaluate allow-ability of costs or overhead pool structure
  • Prepare responses to government audit positions on questioned costs or cost pool structure
  • Assist in negotiation and settlement with government representatives
  • Interpret Federal Acquisition Regulations (FAR)

 Bid Proposals

  • Ensure realistic cost estimating procedures for bidding government contracts
  • Prepare forecasts for direct and indirect cost inputs and overhead rates
  • Assist in proposal preparation, contract negotiation and contract modifications

 Cost Accounting Standards

  • Provide assistance in the preparation of disclosure statements
  • Provide guidance in the modification of cost accounting practices to comply with standards
  • Assist contractors in resolving non-compliance issues and preparing cost-impact analysis

 Contract Terminations

  • Provide guidance in administering claims and settlement with subcontractors
  • Participate in negotiation or settlement proposal preparation
  • Prepare contract close outs