Contracting with the federal government can be complicated. From finding business opportunities to landing the work, the entire experience is full of rules and regulations. While a lot of -- mostly larger, mostly experienced -- firms are set up for these tasks, BDO, a professional services and consulting company, put together a cheat sheet of sorts to help businesses work through the regulatory issues that confound many. BDO itself has contracted with the government and advised other contractors on regulations,cost discipline and other issues.
The cheat sheets runs down five helpful steps a contractor needs to consider when working through regulatory compliance. Some of BDO's tips include how to deal with an audit and asking important questions about government contracts. The sheet even suggests a possible "mock audit" to prepare for a government audit.
Click to enlarge the cheat sheet below.