Plantation, FL (December 15, 2010)) - Auxis, Inc. (www.auxis.com), a leading management consulting and outsourcing firm, today announced a new service for companies that are engaged in or bidding for government contracts.
The shift in economic spending has caused many businesses to alter their current business strategies and pursue more work with the federal government. Although this has proven to be a viable strategy for many companies, the federal government often requires compliance with stringent regulations, such as the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS). Inevitably, many contractors commit to complying with these contractual provisions, but are unaware of the specific compliance requirements and severe penalties associated with non-compliance.
Auxis has extensive experience in regulatory compliance, helping many organizations navigate through the various federal and industry operations and controls requirements, such as Sarbanes-Oxley, the Health Insurance Portability and Accountability Act (HIPAA) and the Payment Card Industry Data Security Standard (PCIDSS). Auxis is also experienced in the government contract compliance arena.
Pending changes in federal regulations will require significant operational and procedural changes for many companies that have or are pursuing Federal or State Government contracts. The new proposed 'Business Systems Rule,' which relates to the existing FAR 52.203-13 'Contractor Code of Business Ethics and Conduct,' is generally incorporated for contracts over $5 million. The regulation requires contractors with certain federally-funded contracts to have an internal control system that addresses more than 100 control objectives and hundreds of key internal controls. This internal control system applies to six key business systems and potentially carries severe penalties.
General construction contractors and architecture and engineering firms are especially vulnerable to this new regulation, since they have typically been able to avoid this level of government compliance requirements in the past, based on how projects were bid (i.e., fixed price bids vs. cost reimbursable bids). The 'Business Systems Rule' now applies to all government contractors with contracts who have specific clauses, regardless of how these contracts are bid.
'From compliance review and documentation through remediation execution, we've been there,' said Eric Liebross, Auxis' vice president of operations. 'Our very experienced team possesses the knowledge, resources and ability to work within any company's operational framework and address compliance issues. Auxis helps to identify compliance gaps and implement reasonable solutions. We have consistently provided real value to our clients by remediating their non-compliance issues, while identifying opportunities for operational improvement that drive efficiencies within the business. In many cases, these operational improvements have more than paid for the necessary remediation.'
Offering much more than contracting compliance services, Auxis helps companies to comply with federal government requirements and improve overall business practices and productivity. For more information, please visit www.auxis.com or call 954.236.4000.
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