October 3, 2016
5 things you must do after winning a contract
Source: Washington Technology, Christine Williamson, September 12, 2016
The recent limitation imposed on the Defense Contract Audit Agency to perform audits means private sector accounting firms now have the opportunity to work more closely with federal agencies to help assess proposals, indirect rates, and business systems of qualifying government contractors.
This change has elevated the need for accountants specializing in government contracting who fully understand the criteria federal agencies use to select and retain contractors.
Compliance and efficiency are paramount to not only achieving the government’s goals, but also for contractors to maximize their own opportunities afforded by a federal contract. With that in mind, we’ve identified the top five areas government contractors need to shore up to ensure their services are efficient and profitable.
1. Policies and Procedures
The first step in making sure your business is set up to successfully maintain a government contract is through compliance. Working for the government is a privilege. The government not only expects to see excellent work as a return on dollars spent, but also expects a fair and reasonable price. Government contractors are held to a higher standard because of the complexity of the compliance needed to ensure taxpayer dollars are being used appropriately. READ MORE….
Contact your nearest PTAC to learn more about government contracting.
For help with Government Contracting: contact your nearest Procurement Technical Assistance Center (PTAC). Funded through Cooperative Agreements between the U.S. Department of Defense and state and local governments/institutions, PTACs provide free and low-cost assistance in virtually all areas of government contracting.