Organizations that receive and administer Federal funds are subject to compliance with a myriad of laws and regulations. The compliance function is an integral part of an organization's structure and management and requires dedicated personnel and resources.
Government regulations impact a number of contractor systems such as cost estimating, purchasing, material management and accounting, government property and billings. We utilize a focused approach centered on identifying compliance and business risks, determining the internal controls required to minimize those risks, and evaluating whether such controls are in place and operating effectively to provide reasonable assurance of compliance.
Additionally, we benchmark existing procedures against both government regulations and industry practices. Where gaps exist, we will identify recommendations for improvement. Our professional staff has significant experience in drafting policy and procedures manuals for government contractors of all types.
Having in place a code of ethics and a mechanism for reporting violations of Federal law is a requirement for most government contractors. ML Weekes provides assistance in establishing a strong compliance function, including policy and procedure preparation, compliance audit plan development, and defining compliance roles. We can also review and assess existing compliance functions and provide recommendations for improving these activities.