BDO Knows Government Contracting Newsletter - Spring 2017

May 2017

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With a new presidential administration, new priorities and mandates for the government and contractors follow. In this issue, we examine three issues that, as the dust settles in D.C., contractors should address to avoid compliance and financial missteps.
 


Challenges Government Contractors Face Maintaining a Compliant Supply Chaing – Part 3 

The third installment of this series takes a close look at recent changes to the regulatory risk and compliance landscape for government contractors, including efforts to crack down on corruption, increased resources devoted to investigations related to the Foreign Corrupt Practices Act and the International Standards Organization (ISO) anti-bribery management system.
 


Asked & Answered: 3 Questions Surrounding the Department of Defense's New Risk-Based EVMS Surveillance

The Defense Contract Management Agency (DCMA) Earned Value Management (EVM) System (EVMS) surveillance process is transitioning from regularly scheduled and planned on-site surveillance to an automated, data-driven surveillance process. Because the new system is in the final testing stages and will soon become standard across the board, this article asks and answers three questions aerospace and defense contractors should consider now.
 


Preparing for Implementation of the New Revenue Recognition Standard

As the deadline for implementation of ASC No. 2014-09, Revenue from Contracts with Customers (Topic 606), approaches, the time to begin planning for implementation is now. This article provides a refresher on the standard's main provisions and reviews implementation methods and key issues that may arise for government contractors. It also explores the presentation and disclosure requirements under the new standard. 
 


Additional Articles

Quarterly Regulatory Update
Significant Accounting & Reporting Updates
PErspective in Government Contracting