Regulatory compliance for government contractors

How can your firm easily understand and comply with ever changing regulations in the government contracting marketplace?

Regulations and public opinion have never weighed so heavily on businesses that provide products and services to the Federal Government and state and local governments using Federal Funds. The Federal Acquisition Regulations (FAR) and their agency supplements, and the Cost Accounting Standards (CAS) were created to assure the government pays a “fair price” for the products and services it purchases from companies.

KPMG’s Government Contractor Services (GCS) specializes in helping companies understand the ever-changing rules and regulations, and improve internal processes to ward off unnecessary challenges brought by federal auditors and contracting officials. Our professionals can help you identify, evaluate, and prioritize the risks that are inherent in their government contracting compliance environment. We help assess the effectiveness and efficiency of internal controls that have been put in place to manage government contracts and industry guidance compliance. The key regulations include the Cost Accounting Standards (CAS), Federal Acquisition Regulation (FAR), AASHTO Audit Guide, and other specific contractual requirements that are critical to many federal, state and local government contracts.

KPMG helps clients meet compliance challenges in the ever-changing regulatory environment surrounding government contracting by enhancing the effectiveness of internal controls and processes needed to manage government contracts in a compliant manner. Historically, KPMG’s assessments and gap analysis have been instrumental in helping clients maintain approved business systems essential to bidding and performing on government contracts and avoid financial exposure associated with non-compliance.

Potential benefits

KPMG’s Regulatory Compliance professionals can help organizations:

  • Increase market share and revenue
  • Increase gross margin
  • Reduce unallowable costs
  • Reduce risk
  • Verify that the organization is in compliance with the rules and regulations of the government contracting marketplace