BDO Knows Government Contracting Newsletter - Fall 2016

November 2016


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In this issue of the BDO Knows Government Contracting newsletter, we focus on new regulatory, tax and accounting changes contractors face. In a marketplace characterized by unrelenting uncertainty around spending and budgets, navigating the complexities of compliance is as important as ever. Our team explores emerging and familiar challenges and opportunities, including supply chain risk management, tax treatment of online domain names, earned value management requirements and more.

Challenges Government Contractors Face Maintaining a Compliant Supply Chain – Part One

This article kicks off our three-part series on the biggest challenges government contractors face while managing risk in their supply chains. Globalization means supply chains are stretching across borders, and heightened regulation requires more careful monitoring of the supply chain from end to end. It’s critical for prime and subcontractors to secure their supply chains against evolving compliance risks, including new counterfeit parts rules and existing country-of-origin restrictions.

Tips for Pharmaceutical Manufacturers: Reacting and Responding to an OIG Review

Pharmaceutical manufacturers face a bevy of compliance requirements with regard to their pricing practices in the federal marketplace. The need for transparency in pharma manufacturers’ pricing practices has spurred an increase in the number and focus of contract and compliance reviews by the Office of the Inspector General (OIG). This article delves into the expectations associated with an OIG audit, the challenges that can arise and best practices for goal-setting and preparation around a review.

So You Bought an Internet Domain: IRS Chief Counsel Offers Clarity Surrounding Tax Treatment of Domain Acquisitions

In today’s ultra-competitive business environment, a strong Internet presence is crucial for survival. For some businesses, achieving that requires the acquisition of applicable internet domain names for better competitive positioning. Until recently, there was no IRS guidance on the proper tax treatment of costs incurred to acquire, create or facilitate the acquisition of Internet domain names. New guidance addresses treatment of costs and discusses the treatment of domain names as an intangible asset.

4 Questions For Navigating Earned Value Management Requirements for BARDA Contracts

Contractors partnering with the Biomedical Advanced Research and Development Authority (BARDA) are subject to unique financial compliance and project controls requirements, including implementation of an Earned Value Management (EVM) system. EVM helps businesses analyze their past project performance to better plan for the future. Implementing a BARDA-compliant EVM system can take up to one year and expose contractors to a variety of challenges. This article explores those challenges, along with the benefits of exploring an outsourced EVM implementation solution.  

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