Government Audits & Investigations
Unlike traditional financial statement audits conducted by independent CPA firms, which feel like a “trust but verify” exercise, a government audit or investigation is rigorously focused on rooting out non-compliances and irregularities where “materiality” is viewed through a narrow aperture. Government audits can occur at any time during the contract lifecycle, and often many times. Investigations can be triggered by a suspicion, an audit referral, or a whistle-blower. Government audits and investigations often make contractors feel as if they are guilty until proven innocent.
While no Government audit or investigation is a pleasant experience, they can be less painful and effectively managed through preparation and cooperation. Contractors should find and correct issues before the government comes knocking, and develop a deep understanding of the audit’s focus and relevant standards (i.e., Federal Acquisition Regulations (FAR), Cost Accounting Standards (CAS), the Truth in Negotiations Act (TINA), or prevailing wage/benefit laws (SCA, DBA)).
Find out more about how we help contractors to:
- Understand the audit
- Identify risk areas
- Manage the audit process
- Respond to and resolve audit issues
- Support investigations by the Government
- Conduct internal forensic accounting and special investigations