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Significant Accounting & Reporting Updates

The FASB recently issued ASU 2017-09, Scope of Modification Accounting, to clarify which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718, Stock Compensation. The ASU is available here, and becomes effective for all entities for fiscal […]

Another Year in the Books: DCAA’s FY 2016 Report to Congress

The Defense Contract Audit Agency (DCAA) recently issued its sixth annual report to Congress on March 31, 2017 (the Report). DCAA primarily provides audit and financial advisory services to the Department of Defense (DOD) and has been ordered by Congress to issue an annual report. The report must address […]

In An Uncertain Time, Consider ESOPs

In an uncertain time for government budgets and priorities, government contractors may consider implementing Employee Stock Ownership Plans (ESOP) as a smart way to reward company stakeholders and encourage cash flow. An ESOP is a qualified, defined contribution employee benefit plan, much like a traditional profit-sharing plan that invests […]

Understanding New Cyber and IT-oriented Regulations for Contractors

Following widespread cyber attacks like the May WannaCry and more recent Petya ransomware attack that included thousands of ransomware attacks across the globe, protecting against cybersecurity is top of mind in Washington, D.C., and beyond. In efforts to keep sensitive information as secure as possible, government contractors will be […]

The Challenges Government Contractors Face Maintaining a Compliant Supply Chain

Risk Management for Contractors, Part 1

As government contractors expand their supply chains across international borders, supply chain risk management is gaining the attention of the industry and U.S. regulators alike. Heightening regulation across industries requires contractors to effectively monitor their supply chains from end to end and manage risk […]

Preparing for Implementation of the New Revenue Recognition Standard

The deadline for implementation of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), is right around the corner!

With an effective date of Jan. 1, 2018, for calendar year publicly held companies and Jan. 1, 2019, for calendar year privately held companies, the time to begin planning for […]

Asked & Answered: 3 Questions Surrounding the Department of Defense’s New Risk-Based EVMS Surveillance

The Defense Contract Management Agency (DCMA) Earned Value Management (EVM) System (EVMS) surveillance process is transitioning from regularly scheduled and planned on-site surveillance to an automated, data-driven surveillance process utilizing over 130 test metrics to identify potential compliance issues. The DCMA is currently piloting the risk-based surveillance process and […]

Five Takeaways for Government Contractors Considering ESOP Transactions

We had a great turnout for our ESOP seminar last Tuesday! If you weren’t able to make it, here are a few takeaways for Government Contractors contemplating an ESOP transaction:

1. ESOP’s are a great way to attract/retain top talent and maintain corporate culture.
2. Since the 2007 changes in the small […]

Warren Averett Welcomes Christie Blaylock

Warren Averett, LLC welcomes Christie Blaylock as a manager in the Firm’s Government Contracting Industry Group and Huntsville office.

With more than seven years of public accounting experience, Blaylock joins Warren Averett to further strengthen the service team in the growing government contracting area. She works with defense contractors across […]

Warren Averett Welcomes New Member, Todd McAdams, to Firm

Warren Averett welcomes Todd McAdams, CPA, CGMA, MAcc, as a Member of the Firm’s Government Contracting practice and Huntsville office. This announcement comes just weeks after Warren Averett, a top 30 accounting firm, and Beason & Nalley, a Huntsville based accounting firm with a strong government contracting practice, announced […]