Federal Acquisition Regulation (FAR) Compliance

For many companies, federal contracts are a significant source of revenue. When contracting with the U.S Government, however, there are strict compliance regulations that all businesses - no matter what their operations - must follow.

To secure and maintain such contracts, most companies are required to calculate an overhead rate in accordance with Federal Acquisition Regulation (FAR) requirements. These overhead rates are also subject to examination by the awarding agency. BPM professionals are well-versed in the unique requirements of such agencies, as well as the requirements of Yellow Book audits.

At BPM, our experience with diverse clientele allows us to uniquely serve your business in whatever capacity you need. Whether you have a single contract or multiple contracts with complex overhead rate calculations, we will ensure your company is in total compliance with FAR requirements. Additionally, we have in-depth experience providing services to clients that receive funding from several federal executive agencies including Department of Energy, Department of Transportation and Department of Health and Human Services.

BPM's Federal Acquisition Regulation services include:

• Accounting systems review & internal controls gap analysis
• Overhead Schedule Audit, in accordance with GAAP
• Yellow Book Audit, in accordance with Government Auditing Standards
• Consulting services for implementation of internal controls
• Guidance & best practices for management to strengthen their current control environment
• Preparation of Statement of Direct Labor Fringe Benefits and Overhead (Overhead Schedule)
• Information Technology consulting on system design, implementation, and security

For more information on our FAR services, email us at bpm@bpmcpa.com.

For more information on FAR requirements, visit www.acquisition.gov/far/html/FARTOCP31.html.