…However, the rush to adopt AI without proper security checks can lead to significant vulnerabilities. AI creates unique considerations for System and Organization Controls (SOC) audits, both from the user’s…
…code at these designated locations is provided. To learn more about what you as a government contractor should consider to meet these objectives, read the full article here: If you…
…you can focus on its many other challenges. How Segregation of Duties Strengthens a Contractor’s Control Environment A contractor’s control environment includes the governance and management functions and the attitudes,…
…Considerations for effective contractor billing processes Effective billing practices are crucial for maintaining strong client relationships and ensuring timely payments. By prioritizing transparency and accuracy, contractors can enhance trust and…
New legislation provides some tax relief for contractors Complying with sales tax laws can be challenging for the average business; however, compliance is even more challenging for contractors who may…
…important in maintaining fairness and balance in contractual agreements between the government and contractors. Understanding REAs is crucial for both parties involved, as they represent a formal process to address…
…to, evaluate and implement the new standard. A more tricky area of the new revenue recognition standard for contractors is the idea of uninstalled materials, or their impact on satisfying…
What DoD Contractors Need to Know for CMMC Compliance Effective November and January 2026, the Department of War (DoW) issued two updates to its CMMC Frequently Asked Questions. These updates…
…Cybersecurity team will continue to monitor the rollout of the CMMC program and update you on new information and changing requirements for DoD contractors. Questions? Contact us: Email | 804.747.0000…
…understanding over backlog helps contractors effectively manage scheduling, expectations, and the completion of future work. Additional considerations The role of a Contractor Finance Leader entails much more than monitoring the…
…to best practices in reporting to enhance and promote consistency in contractor financial statement reporting. Tips for Consistency in ASC 606 Reporting ASC 606 Terminology Changes Contractors need to be…
…are classified as contract assets. This means the contractor does not have an unconditional right to the retention amounts until certain conditions are met. Receivables for retentions If the contractor’s…