Government contractors are subject to rigid requirements and extensive reporting standards to ensure compliance with federal requirements. While some contractors choose to take care of internal controls, compliance and paperwork internally, others choose to use outsourced accounting services and use their time on fewer administrative tasks instead.
Following the State and Federal Requirements
Every business electing to contract with the government is in for a surprise when they first review the Federal Acquisition Regulations (FAR). The FAR is strict, unforgiving and voluminous. Outsourced accounting services, like Rubino & Company, have mastered the FAR and the Cost Accounting Standards and understand what types of things could be targeted during an audit. We can ensure you are following the appropriate accounting requirements for every contract.
Being Prepared for an Audit
Outsourced accounting guarantees that your business’s accounting will be prepared in the event of a surprise audit. In many cases, government audits happen with little to no notice, and being unprepared reflects very poorly on your business. If your current accounting protocols are deemed to be non-compliant, you may not qualify for certain contract types.
Improving the Function of Your Accounting Department
Outsourced accounting is designed to take all or some of the pressure off of your in-house accounting staff and lower the risk of errors happening. Rubino & Company has decades of experience providing accounting services for government contractors or supplementing their accounting departments to improve accuracy and streamline accounting processes where possible. Our team can also suggest improvements and modifications to your internal controls that boost accuracy and reduce risk at the same time.
Our accounting services lower the risk of employee theft and improve your internal controls. Outsourced accounting also properly processes invoices to ensure quick payment and reduces the amount of work needed to correct issues by preventing them in the first place. Our expertise helps you maintain compliance with the FAR. To learn more about accounting services that we offer and how they can benefit your government contracting business, contact us today.
Rely on Rubino & Company for Outsourced Accounting Services
Since 1980, Rubino & Company has provided expert outsourced accounting services to government contractors, non-profits and other commercial organizations. Whether you need assistance with attestation or tax consulting, we strive to be your resource for consulting and accounting services. To learn more about our outsourced accounting services, please call us today at (301) 564-3636.