Core Competence
- Details
- Published on Thursday, 19 November 2009 15:12
Please find below a description of our core competencies and how you can benefit from our expertise, network and relationsships in the US Government Sector
| Our Service | What We Do | What We Did | ||
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| Government compliance program assessment and development |
We assist companies in development of policies and procedures, which provide guidance to the company and its employees in complying with government rules and regulations. |
A leading information technology firm providing services to the government realized that its policies and procedures related to how it developed budgets, allocated cost, and determined indirect rates were insufficient to handle the complex compliance requirements of government contracting. Our consultants assessed the company’s current policies and procedures against the stated requirements of the FAR and DCAA, identified risk areas and assisted in writing and implementing policies and procedures that introduced best practices and full compliance with the requirements. We interacted with representatives of all key areas of the company's operations and administration to ensure that key risk areas were identified. The end result was the customer passing a DCAA audit with no exceptions on its budgeting and planning function, which set the basis for annual provisional pricing structures |
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| Our Service | What We Do | What We Did | ||
| Federal Acquisition Regulation (FAR) consultation |
We consult with clients regarding complex cost allowability matters and establish policies for minimizing risks of noncompliance. | A multi‐billion dollar government contractor received penalties from its first incurred cost proposal audit for the inclusion of unallowable costs in its claimed cost pools. We assisted this client by developing policies and procedures that incorporated compliance with the FAR restrictions including salary limitations, expense reporting and the use of per diems as set by the government for as the basis of allowable cost. Our consultants assisted the company in training its employees on the new policies and procedures to reduce or eliminate unallowable cost in future incurred cost proposals. | ||
| Our Service | What We Do | What We Did | ||
| Indirect rate calculations/Incurred Cost Submissions |
We analyze direct and indirect cost structures to determine G&A and overhead rate calculations. We strive to maximize compliance and cost recovery. | A publicly traded management consulting firm that provides services to State, Local and Federal governments held multiple types of government contracts under which indirect rates were used. As a result of SOX requirements, this firm was required to restate some of its financial information for certain fiscal years. This, in turn required the firm to also recalculate its indirect cost rates. Our consultants assisted the company by calculating the new indirect rates based upon the updated financial information. The calculation involved a review of the company's fiscal year financial statements and general ledger trial balance, meetings with management to determine the nature of certain types of costs and determination of unallowable costs in accordance with government regulations. Through our assistance, the company was able to present its actual, updated rates to its customer as required. |
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| Our Service | What We Do | What We Did | ||
| Cost allocation methodologies |
We review allocation methodologies to ensure compliance with government standards. We focus on assisting our customers to develop methodologies that will maximize their cost recovery. | As a government contractor’s business grew and they expanded to a globally oriented enterprise, they found that they needed to adjust their cost allocation methodologies to better distribute relative cost to all business segments. Although they adjusted the allocation technique, they failed to do so in a manner that was compliant with government requirements. Our consultants reviewed the allocation methodologies, developed cost impact reviews and advised the client of areas of risk so that they could develop strategies to bring their practices into compliance with government cost accounting standards (CAS). | ||
| Our Service | What We Do | What We Did | ||
| Audit support | We support our customers during audits to understand their financial information and appropriately present it to auditors to explain and support their practices. We focus on demonstrating compliance with regulatory requirements for maximum cost recovery. |
A prominent IT and management consulting entity was audited for an incurred cost proposal that had been filed. The customer did not have sufficient staff to support or manage the audit. Our consultants provided program management for the audit and developed all materials in response to audit requests. This included location of supporting documentation, analysis of data, assessment of risk, development of strategic positions to reduce potential exposure, and the development of all formal responses on behalf of the customer. We worked closely with key corporate officers to explain risk and propose recommendations for customer concurrence prior to presentation to auditors. We successfully negotiated several key areas of exposure for the customer and eliminated the financial risk that would have been associated with a non‐compliant finding. | ||
| Our Service | What We Do | What We Did | ||
| Staff training | We assist our customers in training their staff in all areas of financial management. | A large government contracting organization had been outsourcing some of their financial functions and wanted to bring them inhouse. Our consultants reviewed the functions they wished to assume; assisted them in developing a budget; aided in creating and implementing a plan of transition; supported them in the identification, interviewing and hiring of fulltime employees to assume the duties; and trained the staff members in the various functions they were to undertaking. Within 6 months, a department of 26 persons was created and fully functional for the identified functions that were assumed. | ||
1994 Millwood Rd.
PO Box 356
Millwood, VA.
22640, USA
Toll free phone number:
877-
