Frank J. Beatty – Director

+1 703 796 2875

 

Plaza America Tower II
11710 Plaza America Drive
Suite 800
Reston, VA 20190
fbeatty@chessconsultingllc.com

Frank J. Beatty is a Director with Chess Consulting LLC. Frank’s unique background spans all three stakeholders related to government contracting – the U.S. Government, the private sector, and the consulting realm for government contractors.

In the U.S. Government, Frank was a senior auditor at the Defense Contract Audit Agency (DCAA) as well as an assistant program director for the Department of Defense (DoD) Office of Inspector General (OIG), conducting audits and investigations. In his consulting roles, Frank has advised the senior leadership of Fortune 500 and Financial Times 50 organizations in the U.S., the U.K., and the Netherlands in a variety of engagements. Critical compliance areas include assessments of the adequacy of cost accounting practices and regulatory compliance matters stemming from the Federal Acquisition Regulation (FAR), Office of Management and Budget (OMB) Circular requirements, and compliance with the Cost Accounting Standards (CAS). In the private sector, Frank lead the corporate regulatory compliance functions where he served as the principal liaison with the DCAA, the Defense Contract Management Agency (DCMA), and various OIG audit groups. In those roles, he supported requests for documentation from audit organizations and was instrumental in settling audit findings with government agency contracting officers. Other significant efforts have included working with outside counsel on mergers and acquisitions (M&A) due diligence matters and conducting self-assessment reviews (pre-audits) of applicable DoD business system requirements for contractors.

Prior to joining Chess Consulting, Frank served as the Senior Director of Regulatory Compliance at Engility Corporation and was a director in the government contractor consulting practice of an international consulting firm. His private sector experience includes Engility, L-3 Corporation, LucasVarity plc, GTE Corporation, Contel Corporation, and the Chrysler Corporation. Additionally, Frank served as the ethics officer at a division of a large aerospace and defense contractor and on two independent monitor teams in coordination with the Department of Justice. In those roles he provided oversight of the compliance activities of large aerospace manufacturing contractors. He also served on the business ethics committee of a U.K. defense manufacturing contractor.

 

Professional Experience

Government Contractor Advisory Services:

  • Cost Accounting Standards and Pricing. Frank consults with government contractors on complex cost allocability and allowability matters.  He assists contractors in interpreting and applying Cost Accounting Standards (CAS) and the Federal Acquisition Regulation (FAR) cost principles, prepares CAS disclosure statements, and develops compliant cost accounting structures and assist in developing go-forward strategies related to accounting changes and general dollar magnitude cost impact assessments.
  • Business Systems and Associated Compliance Reviews. Frank works with companies in connection with assessing the adequacy of their internal processes, controls and self-governance programs on assignments that include evaluating project cost accounting systems, financial reporting, labor charging, indirect cost structures and government compliant business systems – accounting; material management and accounting; cost estimating; purchasing, and government property systems.
  • Emerging Contractor Services. Frank works with contractors to prepare cost proposals and incurred cost submissions, pursue bid protests, reengineer cost allocation systems and prepare for audits and negotiations. He also assists contractors with contract close-out / quick close-out strategies with government agencies for “overage” contracts.
  • Financial Reporting and Due Diligence. Frank has advised senior management and boards of directors on matters involving financial accounting and reporting and corporate governance.  He also has worked with buyers on merger and acquisition due diligence reviews, including advising management with respect to the unique business, accounting, financial reporting, and regulatory risks that impact government contractors.

Disputes, Independent Monitor and Training:

  • Claims Pricing and Support. Frank assists contractors with preparing requests for equitable adjustment, including the identification, analysis and pricing of changed work and associated delay and disruption claims.  Additionally, he assists contractors in preparing termination settlement proposals, dealing with subcontractor claims and managing the settlement process, and preparing and negotiating forward pricing rate agreements.
  • Ethics Officer and Independent Monitor. Frank served as the ethics officer at a division of a large aerospace and defense contractor and on two independent monitor teams in coordination with the Department of Justice.  In those roles he provided oversight of the compliance activities of large aerospace manufacturing contractors.  He also served on the business ethics committee of a U.K. defense manufacturing contractor.
  • Training. Frank has developed and instructed numerous training seminars for contractors on varied matters, such as CAS, FAR cost principles, the regulatory environment, the procurement process, business systems, contract pricing and accounting, changes and terminations, the government audit process, labor charging, and indirect cost accounting.

Education and Certifications

  • Central Michigan University, M.A., Management
  • George Mason University, B.S., Business Administration and Accounting
  • Certified Public Accountant, Commonwealth of Virginia, 1982-2015
  • Member of American Institute of Certified Public Accountants

Publications

  • Co-author of “DoD Moves to Implement Will-Cost and Should-Cost Management,” Contract Management, July 2011.
  • Co-author of “Interesting Times for Government Contractors,” Contract Management, May 2011.
  • Co-author of “Pre-Award Contract Audits,” Contract Management, February 2011.
  • Co-author of “Government Contract Cost Accounting Principles,” Contract Management, August 2010.
  • Chapter 6, “Accounting for Materials and Other Direct Costs,” Commerce Clearing House, Government Contract Cost Accounting, October 2010.
  • Chapter 5, “Pre-award Audits,” Commerce Clearing House, Government Contract Audits, November 2010.