Estimated read time: 6 minutes Key Takeaways Point 1: The Immediate Fix. Stop treating audit prep as an annual fire drill. True compliance means embedding an automated, contract-level cost ledger structure into your monthly close routine—ensuring every direct transaction satisfies FAR 31.201-2 standards before an invoice is generated. Point 2: The Compliance Risk. Operating an un-reconciled or reactive accounting system invites immediate administrative disasters. Under DFARS 252.242-7005, significant deficiencies in your cost accounting internal controls allow… Read More
DCAA Audit Readiness
SBA Requires All 8(a) Firms to Submit Three Years of Financial Records: What Government Contractors Need to Know
Estimated Read Time: 6 minutes On December 5, 2025, the U.S. Small Business Administration (SBA) announced that it has sent letters to all participants in the 8(a) Business Development Program, directing them to submit detailed financial and contract records covering the last three full fiscal years. More than 4,300 small businesses are affected. This mandate is part of a broader initiative to address concerns about fraud, waste, and abuse in preference-based… Read More