Government Contracting and Grant Compliance
We offer expedient and efficient accounting, assurance and tax services to government contractors and federal grant awardees of all sizes all across the United States.
Conducting business with the federal government is often rife with hassles and complications. In addition to the usual challenges faced by businesses, contractors and grant awardees face unique challenges due to the additional regulations and compliance requirements associated with their business relationship with the federal government. Along with these challenges, however, comes immense opportunities.
We have handled over 100 assurance engagements in regards to federal regulations according to Government Auditing Standards (The Yellow Book).
We have helped one federal contractor grow from being out of business in 2012 to gaining their first contract to now successfully serving five federal contracts and eclipsing five million dollars in revenue in 2017 and are on their way to eclipse six million dollars in revenue in 2018.
In addition to traditional accounting services such as assurance and tax, we offer a full range of services focused on serving the needs to government contractors and federal grant awardees.
Single Audit Services
A single audit provides assurance that recipients of federal funds comply with the laws and regulations, as well as specific program requirements, identified by the funding federal agency. Depending on the circumstances, single audits can be complicated and burdensome. The OMB Circular A-133 and Single Audit Act Amendments require a rigorous compliance-based audit of transactions associated with the use of the awarded funds in addition to a standard audit of financial statements.
Cloonan & Associates can help your company meet your objectives, maximize your financial relationship with the federal government, and spot opportunities and risks to help you stay way ahead of your competitors.