Audit, accounting and finance considerations for small businesses in the government contracting industry
As small and medium-sized businesses grow, it is evitable a financial statement audit will be required. These audits address accounting rules under U.S. generally accepted accounting principles (GAAP) and can be complex, especially for government contractors who also have to deal with federal regulatory guidance and contract terms and conditions.
During this segment, originally presented during Federal Publications Seminars’ 2022 Small & Medium Business GovCon Forum, Baker Tilly’s Nick Goodman and Bill Leonard provided a financial accounting update focused on the impact pressing U.S. GAAP rule changes have on federal contractors and discussed best practices that can help you prepare for a financial statement audit.
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