Industry News & Updates
2022 NDAA – Changes to Other Transaction Authorities
The 2022 National Defense Authorization Act (NDAA) addresses Other Transaction Authorities (OTAs) in an attempt to increase oversight, transparency, and clarification on current rules, expand access for OTAs within the Cyber Security field, and increase focus on competition in OTA procurements.
Financial Reporting Update: March 2022
Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the FASB, SEC, AICPA, and PCAOB.
Financial Reporting Update: February 2022
Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the SEC, AICPA, and PCAOB.
Financial Reporting Update: January 2022
Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the FASB, SEC, and AICPA.
PPP Forgiveness, Claimed Cost, and Incurred Cost Submissions
To assist emerging government contractors with the Incurred Cost Submission (“ICS”) process we have compiled responses to a few of the questions we are commonly asked. If you need further assistance or have additional questions with the ICS process, contact us at www.ChessConsultingLLC.com. Our professionals have extensive experience with developing indirect cost rates and assisting contractors with ICS preparation.
Incurred Cost Submission
To assist emerging government contractors with the Incurred Cost Submission (“ICS”) process we have compiled responses to a few of the questions we are commonly asked. If you need further assistance or have additional questions with the ICS process, contact us at www.ChessConsultingLLC.com. Our professionals have extensive experience with developing indirect cost rates and assisting contractors with ICS preparation.
Get Your Financial Reporting Under Control
No matter what a company’s business is, Chess Consulting can increase the efficiency, accuracy, and understandability of its Governmental, managerial, and financial reports.
Financial Reporting Update: November 2021
Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the FASB, SEC, and AICPA.
The Continuing Evolution of Federal Cybersecurity Requirements – Part 5: CMMC Update – What it Means for Government Contractors
The fifth post in our cybersecurity series discusses the change in approach taken by the DoD for the Cybersecurity Maturity Model Certification (CMMC) program.
PCAOB 2020 Inspection Observations – How Internal Audit Can Help
While companies and external auditors alike have responded admirably to the many challenges that arose in 2020, the Public Company Accounting Oversight Board (PCAOB) recently released a report that uncovered recurring problem areas in the financial statement audits of 2020. The internal audit function can help your organization face the issues identified in the PCAOB’s report by assisting with communication and coordination efforts during the financial statement audit process.