For contractors performing on more complex and significantly large dollar value contracts and cost accounting standard covered contracts, there are six different business systems that could be subject to a determination of adequacy by the Federal Government per DFARS 252.242-7005. The six systems are:

252.215-7002: Estimating System

252.234-7002: Earned Value Management System (EVMS) 

252.242-7004: Material Management and Accounting System (MMAS)

252.242-7006: Accounting System

252.244-7001: Purchasing System

252.245-7003: Property Management System

CohnReznick aids contractors in designing and implementing compliant business systems and practices that meet the established federal regulatory requirements. We provide strategic guidance and hands-on support across all business systems, including mock gap assessments and formal audits under civilian agencies, to help with compliance readiness. 

CohnReznick supports government contractors in developing and optimizing indirect rate structures tailored to their organizational needs, all while helping ensure compliance with FAR, 2 CFR, and CAS requirements. Our team provides strategic rate development that supports accurate cost allocation and regulatory compliance, while delivering defensible pricing strategies that enhance competitiveness within the federal contracting space. We are here to guide clients through forward pricing, provisional rates, incurred cost submissions, and rate negotiations with a focus on transparency and audit readiness. 

CohnReznick provides strategic guidance and analytical support to government contractors involved in bid protests. Our team helps assess protest risks, prepare defensible cost and pricing data, and deliver expert analysis to support legal counsel during legal proceedings. We help contractors protect their competitive position and navigate the complexities of the protest process with confidence.

CohnReznick assists government contractors in analyzing current and potential corporate structures, including tax corporate structures, to better align cost recovery methods and assess the audit risk according to federal regulations. Our team provides strategic guidance on audit risk, business combinations, and acquisition planning. Throughout this process, we help businesses navigate operational stabilization, financial optimization, and tax-efficient strategies to support long-term growth and compliance.

CohnReznick assists government prime contractors in successfully performing subcontractor oversight functions and provides guidance on best practices for flow down of contract clauses, oversight and monitoring, and subcontract audit requirements. In addition to proposal and business system audits, our team also performs subcontract audits on behalf of prime contractors to enable timely close out and cost recovery of subcontract costs. 

CohnReznick assists prime contractors in developing and implementing compliant and effective small business subcontracting plans in accordance with federal regulatory requirements. We help contractors identify qualified small business partners, establish realistic subcontracting goals, and enable proper reporting and documentation. Our support enhances compliance and transparency, strengthens supplier diversity, and positions contractors for success in federal procurements.

CohnReznick delivers outsourced accounting solutions that help government contractors reduce overhead, enhance accuracy, and maintain compliance with federal and agency-specific regulatory requirements. Our services range from day-to-day bookkeeping and invoicing through platforms like Wide Area Workflow (WAWF), audit preparation, and financial reporting, to tailored white-glove Client Advisory Support (CAS) compliance support for various client needs. By aligning accounting systems and processes with federal compliance standards, including cost accounting standards, we enable contractors to scale efficiently, optimize working capital, and focus on business operations. 

CohnReznick helps government contractors implement purpose-built software solutions that support compliance, efficiency, and scalability. Our team guides clients through the selection, configuration, and deployment of ERP and accounting systems tailored to federal contracting requirements. With deep knowledge of platforms like Deltek, Unanet, and others, we make sure the integration process is seamless with business processes and regulatory frameworks that help to empower contractors to streamline operations, enhance data integrity, and meet audit expectations with confidence.

CohnReznick provides guidance, based on years of experience, to government contractors navigating the complexities of the Federal Acquisition Regulation (FAR) requirements. Our team helps interpret and navigate FAR clauses across the contract lifecycle, from proposal development and pricing strategies to compliance assessments and audit readiness. With deep regulatory knowledge and real-world experience, we help contractors mitigate risk, avoid noncompliance, and operate with confidence in the federal marketplace.

CohnReznick provides a variety of training classes for your organization including topics such as an overview of FAR, DFARS, Cost Accounting Standards, GAAP, 2 CFR regulations, unallowable costs, timekeeping, and indirect rates. We have the ability to tailor training sessions to fit the organization's needs in line with federal award guidance and regulation. 

CohnReznick aids government contractors in designing, implementing, and monitoring internal control frameworks and best practices. The controls will support compliance with FAR, 2 CFR, DFARS, and DCAA business system requirements. Our team evaluates control environments across accounting, procurement, and project management systems to identify gaps, reduce risk, and strengthen audit readiness. Our team assists contractors in integrating internal controls for government contract compliance, enabling more efficient oversight and improved organizational performance.

CohnReznick helps government contractors navigate the complexities of cost-type contracts by providing comprehensive support for proper cost accounting and related compliance requirements. Our team assists with incurred cost submissions, cost allowability analyses, indirect rate development, and audit readiness. We also guide contractors in aligning their accounting practices with FAR requirements, leveraging technology to streamline processes, improve transparency, and minimize audit risk.

CohnReznick, LLP provides a full suite of attestation services, including audits, reviews, and compilations of financial statements. With deep industry knowledge, the firm serves a diverse client base across sectors such as hospitality, manufacturing, consumer products, real estate, life sciences, information technology, and financial services. Our attestation work delivers the transparency and assurance stakeholders need to make informed decisions and meet regulatory requirements.

 CohnReznick provides a broad range of improvements to products or processes and can qualify your company for federal and state Research and Development (R&D) Tax Credits — particularly for small businesses. Following an initial no-cost analysis, CohnReznick models available credits by year and jurisdiction, giving you the greatest available advantage. In addition, if unused credits are discovered, they can be carried forward or amended in prior-year tax returns.

CohnReznick’s Tax Services team delivers proactive, industry-focused strategies that help clients manage risk, maintain compliance, and optimize their tax position. With deep expertise across federal, state, local, and international tax laws, we provide tailored solutions for businesses, investors, and high-net-worth individuals. Our services include tax planning, compliance, structuring for mergers and acquisitions, tax credits and incentives, and guidance on evolving tax regulations—empowering clients to make informed decisions and drive long-term value.

CohnReznick assists in preparing accurate and defensible cost impact studies in accordance with Cost Accounting Standards (CAS) and all applicable federal regulatory requirements. Our team evaluates the financial effects of accounting practice changes, contract modifications, and organizational restructures to determine their impact on government contracts. We help ensure compliance with full and modified CAS coverage, support disclosure statement updates, and provide audit-ready documentation to mitigate risk and facilitate agency negotiations.

 CohnReznick provides support in preparation, submission, and maintenance of compliant Cost Accounting Standards Disclosure Statements. Our team guides clients through the development, revision, and submission process, helping to align with regulatory requirements and minimizing the risk of noncompliance. Our team is available for the full lifecycle of disclosure statements and can aid in responding to government inquiries and audits related to disclosure statements.

CohnReznick provides advisory services on structuring executive compensation packages that comply with FAR (52.204-10) and other federal guidelines. We help assess reasonableness, apply statutory compensation caps, and make sure costs are properly documented and allocable. Our team supports pre-award planning, compensation plan and policy development, and audit defense to help contractors avoid the occurrence of unallowable costs and maintain compliance throughout the contract lifecycle.

CohnReznick aids in the preparation and submission of accurate, audit-ready Incurred Cost Submissions (ICS) in compliance with the Federal Acquisition Regulation requirements. Our team guides clients through the full submission process, from compiling indirect rate data and completing the DCAA ICE model, to conducting internal reviews, performing adequacy checks, and support throughout an audit of an ICS submission. We help ensure timely submissions, reduce audit risk, and support contractors in responding to DCAA inquiries with confidence.

CohnReznick helps organizations prepare, analyze, and defend contract claims and disputes. Our team provides forensic accounting, cost analysis, and expert support for equitable adjustments, terminations, and delay claims. We cooperatively work with law firms, contractors, and in-house counsel in termination and claim calculations, bid protests, and DCAA rebuttal support.

CohnReznick assists prime contractors in fulfilling their oversight responsibilities by helping subcontractors comply with FAR, 2CFR, and DFARS requirements. Our team evaluates subcontractor cost proposals, incurred costs, and compliance with flow-down clauses to establish transparency, accountability, and audit readiness. Our team supports prime contractors in meeting agency expectations for subcontractor monitoring and documentation.

CohnReznick supports contractors in managing the financial and compliance complexities of contract terminations. Our team helps assess allowable costs in accordance with FAR 31.205-42, prepare termination settlement proposals, and document wind-down activities in accordance with federal guidelines. We provide strategic guidance to minimize unallowable costs, support negotiations with contracting officers, and produce audit-ready documentation throughout the termination process.

CohnReznick provides guidance surrounding effective responses to adverse findings from Defense Contract Audit Agency (DCAA) audits. Our team conducts root cause analyses, prepares corrective action plans, and supports remediation efforts to address deficiencies in accounting systems, indirect rates, incurred cost submissions, and other compliance areas. We work closely with contractors to resolve audit issues, improve internal controls, and restore audit readiness to maintain eligibility for future federal awards.

 CohnReznick provides comprehensive contract audit support to help contractors navigate audits conducted by agencies such as the DCAA and DCMA. Our team assists with audit readiness, responses to audit findings, incurred cost submissions, and compliance with FAR, 2 CFR, and DFARS requirements. Our team mitigates risk and helps ensure accurate, defensible financial data throughout the audit lifecycle.

CohnReznick helps contractors navigate the complex process of contract closeout. We make sure all allowable costs are captured, indirect rates are reconciled, and final invoices are accurate and compliant with FAR and agency-specific requirements. Our team works closely with accounting and contracting departments to prepare and submit final vouchers, respond to audit inquiries, and facilitate timely contract closure, which greatly reduces risk and accelerates the client’s cash flow.