乐鱼(Leyu)体育官网

Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That鈥檚 why 乐鱼(Leyu)体育官网 LLP established its industry-driven structure. In fact, 乐鱼(Leyu)体育官网 LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

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We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

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What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

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Government contractor advisory services

Helping companies with government contracts address FAR / CAS accounting, indirect rates, and contract and regulatory compliance audits

Effective application of U.S. Gov. requirements transforms regulations into compliant cost structures that support strategic objectives

Government contract compliance can be led by either the CFO, Controller, CAO, or Legal teams and involves the intersection of government contract regulatory compliance as well as financial cost accounting, pricing, and business systems requirements.

The compliance function plays an important role in the success of U.S. Government contractors 鈥� with effective interpretation and application of U.S. Government contract requirements, it can transform regulations into competitive indirect rates, effective cost structures, and approved business systems聽required by the Federal Acquisition Regulations (FAR), Cost Accounting Standards (CAS), among others.

The pressures on today鈥檚 U.S. Government contractors seem to increase almost daily. They must deal not only with market challenges such as global competition, vertical integration, and cyber espionage; but also with increasing demands by government officials and other stakeholders to secure supply chains and safeguard U.S. critical technology information while improving the value of their business.

These demands from government officials and stakeholders derive from the set of clauses found in Government contracts which vary depending on the contract vehicle, acquisition method and government customer. This is where our Government Contractor Services (GCS) can help. Our GCS professionals provide a wide lens customized to client strategic objectives on U.S. Federal regulatory matters by combining the experience of senior-level industry executives; U.S. Government auditors and contracting officers; and an extensive library of industry leading聽practices.

We enable our clients鈥� success from 3 different perspectives:

Buy Side/Sell SideCapital Market ReadinessTechnical Accounting

鈬� Are you planning to expand or exit the U.S. Government contracts, agreements, or grants marketplace?

鈬� Does the Deal involve government contractors, or integration activities requiring TSA/ITSA鈥檚?

鈬� Do you have Government contracts and are you planning to go public?

鈬燚o you want to improve price competitiveness, expand your contract vehicles, or partner with the U.S. Government to develop new products?

鈬燚o you want to consider funding your business with foreign investors?

鈬燞ave you received notice of an upcoming聽 Government audit?

鈽� Gov. contract risk due diligence

鈽懧燫eview TSA/ ITSA agreements for government compliance and maximum cost recovery

鈽懧燬upport integration activities with industry leading practices, benchmarks for government contractors

鈽� Support combining cost accounting聽and indirect rate structure due to聽realignment

鈽� Department of Defense (DoD) business processes integration

鈽� Mandatory cost and regulatory submissions

鈽� Cost recovery defense strategy

鈽懧燙ost accounting structure optimization and realignment

鈽懧燤andatory cost and regulatory submissions on cost structure realignments

鈽懧燚oD business processes internal control framework alignment with Sarbanes-Oxley

鈽懧燙ost accounting structure optimization and realignment

鈽懧燙ontract vehicle expansion assessment

鈽懧燙ost share arrangement and grant compliance

鈽懧燦ational security services

鈽懧燗udit readiness assessments

Our team can assist clients and 乐鱼(Leyu)体育官网 teams connecting the regulatory dots, creating value, and mitigating compliance risks with the U.S. Government

Selected Actions in a Cost-Based Government Contract Lifecycle

The following illustration shows examples of contract compliance challenges when receiving a cost-based U.S. Government contract:

    Pre-Award

    • Develop a cost accounting structure with rates that allocate indirect costs on the basis of causal or beneficial relationships
    • Collect and store artifacts used to estimate the proposal by cost element using historical experience and engineering or parametric estimates
    • Evaluate accounting system against the criteria set forth in SF-1408 "Pre-award Accounting System Adequacy Checklist"
    • Assess whether the contract will trigger CAS: $7.5M for modified coverage and $50M for full coverage
    • Conduct TINA sweep before contract execution and maintain records for defective pricing audits
    • Assist in designing compliant controls environment per contract requirements (accounting and operating policies and procedures)

    Contract Performance

    • Create or modify existing CASB DS-1 Disclosure Statement
    • Charge total time incurred by employees to corresponding indirect and direct activities (projects)
    • Identify, segregate and exclude unallowable costs from expenses included in billings
    • Keep records of artifacts that support each element of cost billed such as timesheets for labor incurred
    • Develop an Incurred Cost Submission which provides a true-up of indirect rates billed throughout the year to DCAA for audit
    • Maintain adequate DFARS business systems and records that support compliance with controls related to accounting, purchasing and estimating
    • Model cost accounting or Indirect Rate changes across contract backlog to report GDM or DCI cost impacts

    Contract Closeout

    • Issue interim contract completion statement
    • Ensure disposition of classified material is completed
    • Receive final patent or royalty report clearance
    • Negotiate and close out all cost-based subcontracts
    • Submit Incurred Cost Submission for final performance year
    • Negotiate and settle all unallowable costs
    • Completed contract audit
    • Ensure receipt of contractor鈥檚 closing statement (release)
    • Review and submit contractor鈥檚 final invoice

    Dive into our thinking:聽

    GovCon Regulatory Update

    Opportunities for Industry under the creating helpful incentives

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    Buy America and Trade Agreements Act Services

    Are you complying with U.S. government domestic preference programs in a global economy?

    Download PDF

    Explore more insights鈥�

    Meet our team 鈥�

    Contact Brian or Brad to find out more on how GCS can support achieving the strategic objectives of U.S. Government contractors.

    Image of Brian Taylor
    Brian Taylor
    Managing Director, Government Contractor Services, 乐鱼(Leyu)体育官网 US
    Image of Brad Smith
    Brad Smith
    Director, Government Contractor Services, 乐鱼(Leyu)体育官网 US

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