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WILL YOUR GOVERNMENT GRANT ACCOUNTING SYSTEM SURVIVE AN AUDIT?

August 9, 2019 / Ed Jameson /

SEE IF YOU QUALIFY FOR A FREE JAMESON RISK & COMPLIANCE ANALYSIS. (VALUE $2,850)

We’ll test your timekeeping, vouching, reporting and internal controls to determine the adequacy of your accounting system in accordance with Federal Acquisition Regulation (FAR) Part 31.

Our assessment includes a review of:

  • Time reporting system and labor distribution
  • How costs are captured (cost pools); proper segregation of costs as direct, indirect or unallowable
  • Job costing system
  • Indirect rate calculation
  • GAAP practices, including revenue recognition as well as government billing procedures

Once we’ve completed the report, we’ll set up a time to go over it with you in detail.