The GRF Blog


GRF's partners, auditors and accountants share their professional insights into financial management issues of interest to nonprofits, international non-governmental organizations, government contractors, businesses and individuals. Subscribe to our posts in the right column.



Tips for Documenting Justification for Non-Competitive Acquisitions

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Government contract monitoring is an essential aspect of working with government agencies. Monitor your contract for subcontractor competition requirements. If you plan to justify “non-competitive” acquisitions, plan ahead. As we mentioned in our recent GovCon Insights article, if you do not provide sufficient explanations you may find yourself in noncompliance with your contract clauses and with a determination that your purchasing system is inadequate. Below you will find tips to help you prepare a non-competitive justification:

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Government Contracting
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How Expense Account Fraud Is Done

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All organizations, no matter the size, can fall victim to expense report fraud. Instituting internal controls is a great first step to warding off fraud. Educating accounting staff on tell-tale signs is also a great way to catch perpetrators. For example, by noting examples from the two primary fraud schemes, accounting staff can be on the lookout and potentially catch fraud before it occurs. The two primary schemes perpetrated are employees claiming reimbursement for fictitious expenses or inflating actual business expenses.

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Fraud Awareness
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Profile of a Fraudster

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What do you imagine the typical fraudster profile looks like?

The 2014 Association of Certified Fraud Examiners (ACFE) annual report highlights a typical fraudster’s profile. Most fraudsters don’t share their intent and willingness to commit fraud and the perpetrator acts alone. For the most part 55% of fraudsters attended or graduated from college. From this 55%, 14% obtained a post-graduate degree. When dealing with a fraudster who didn’t attend college organizations can expect to lose about $100,000 but when dealing with individuals who obtained a post-graduate degree, organizations can expect to lose about $300,000.

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Fraud Awareness
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Tips for Negotiating Maximum Profit on Cost-Based U.S. Government Contracts

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We are not all expert negotiators; for some of us, this is a learned skill. When dealing with cost-based U.S. government contract negotiations there are many cost considerations to factor in and spell out in your proposal. For example, in one of our recent GovCon Insights articles we addressed the weighted guidelines structured approach to negotiating maximum profit. Diligent justification for anything  above the normal range of values in your profit calculation will go a long way with the contracting officer. For example, one of the technical evaluation factors associated with performance risk is the technical complexity of the proposed work. A higher-than-normal value may be considered if the efforts require highly skilled personnel or require the use of state-of-the-art machinery. Your narrative should include a statement that you are using your most highly skilled personnel or state-of-the-art-machinery. Reference those tasks or portions of the statement of work in the proposal that require these resources, if that is the case. Additionally consider:

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Government Contracting
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The Benefits of Hiring Forensic Accountants

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Unlike business accountants and auditors, Forensic Accountants bring an investigative component to any case that involves money. For the attorney representing a plaintiff or a defendant, the forensic accountant’s skillset can provide a significant advantage by taking complex financial data and putting it in a format that the attorney, and more importantly the judge and jury, can understand. Here are some of the things you can expect a full service forensic accountant to bring to your case:

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Fraud Awareness
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Labor Classification Description Tips for Government Contractors

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Due to the steep repercussions from improper labor category classification, under U.S. government time and materials (T&M) contracts, we are providing pre-and post-award tips that can help you avoid negative actions such as cost disallowances, investigations, fines and even jail time.

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Government Contracting
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Income Deflation, Why, How and When?

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In the most common circumstance of applying for a loan or mortgage, people are motivated to inflate their income and their assets as high as possible to convince credit providers that they are credit-worthy. However, there are at least three circumstances where people are motivated to “deflate” their income and net worth: income and personal property taxes; filing for bankruptcy; and finding oneself in a messy divorce. In all three cases, “income and net worth deflation” is something that is often considered and applied.

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Fraud Awareness
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Omni-Circular: How the New Federal Regulations Affect Your Nonprofit Organization’s Audit

Nonprofit Audits and the CFR 200 –Uniform Administrative Requirements, Cost Principles and Audit

 

The CFR 200 “Uniform Administrative Requirements, Cost Principles and Audit” went into effect December 26, 2014. There are many regulation changes. This blog only focuses on audit threshold and requirements for procurement.

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Beyond the Audit: Nonprofit Accounting, The Auditor’s Perspective
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Happy Birthday, March Babies!

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Happy Birthday to You!

We are very proud of our hard-working employees here at GRF. Especially during this busy-season. So today we celebrate our wonderful employees with March birthdays!

Happy Birthday to Tom Netznik, Mary Powell, Hugene Fields, Isabel Vordzorgbe, Kate Fisken, Alison Albrecht and Bob Todes!

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Working at GRF
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Fraud in Nonprofit Organizations

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According to the ACFE’s Report to the Nations on Occupational Fraud and Abuse, median loss at nonprofits is higher than government agencies, but lower than private and public companies.

Fraud takes a toll on nonprofits as the organization suffers financial losses and reputational damages.

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Beyond the Audit: Nonprofit Accounting, Fraud Awareness
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The rules and regulations in the Government Contracting industry are complex and Judy Lasley does an excellent job of educating me on how to wisely calculate, set and defend rates, as well as the long-term consequences of choosing the wrong rates.

John Cates |  President and Chief Executive Officer
Global Intelligence, Inc.