blog | Bowman & Company, LLP | Government Entities

GOVERNMENTS CAN WIN IN THE WAR ON FRAUD: GOVERNMENT CONTRACTS (2 of 2)

Posted by Maryann Holloway, CPA, RMA, PSA, Senior Manager on Apr 14, 2022 11:15:00 AM
GOVERNMENTS CAN WIN IN THE WAR ON FRAUD: GOVERNMENT CONTRACTS (2 of 2)

Internal controls are the foundation every government needs to ensure fraud can be detected and prevented, internally and externally. Previously in this series, we wrote that the war on government fraud starts with the five components of internal control known as the Committee of Sponsoring Organizations (COSO) framework. This article continues the discussion of highlighting critical areas in which every government should apply this framework. Read the first edition of the government contract fraud series here.

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Topics: Government Entities, Federal Services

GOVERNMENTS CAN WIN IN THE WAR ON FRAUD: GOVERNMENT CONTRACTS (1 of 2)

Posted by Maryann Holloway, CPA, RMA, PSA, Senior Manager on Apr 12, 2022 11:15:00 AM
GOVERNMENTS CAN WIN IN THE WAR ON FRAUD: GOVERNMENT CONTRACTS (1 of 2)

Internal controls are the foundation every government needs to ensure fraud can be detected and prevented, internally and externally. Previously in this series, we wrote that the war on government fraud starts with the five components of internal control known as the Committee of Sponsoring Organizations (COSO) framework. This article continues the discussion by highlighting another critical area in which every government should apply this framework.

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Topics: Government Entities, Federal Services

Bowman Partner Speaks at CCMA Workshop

Posted by Bowman & Company LLP on Apr 8, 2022 11:15:00 AM
Bowman Partner Speaks at CCMA Workshop

On March 16, 2022, Bowman & Company LLP Partner Bob Marrone spoke at an event hosted by the Camden County Mayor's Association. This non-partisan association is designed to better the leadership and efficiency of municipal governments. Also speaking at the event was a representative from the State of New Jersey Division of Local Government Services. The topic discussed was emergent issues for 2022 municipal budgets, including the use of federal American Rescue Plan act funds.

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Topics: Speaking Engagements, Government Entities

Bowman Named A Top Key Player in SOC Reporting by Digital Journal

Posted by Bowman & Company LLP on Mar 21, 2022 11:15:00 AM
Bowman Named A Top Key Player in SOC Reporting by Digital Journal

Bowman & Company LLP has recently been named to a list of the top key players of SOC (Service Organization Controls) reporting services market by Digital Journal in an article published on March 17th, 2022. Click here to read the full article, "SOC Reporting Services Market May See a Big Move with Attractive Growth Opportunities, Incredible Possibilities and Growth Analysis and Forecast to 2028".

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services, SOC Suite

GASBS 87 HAS ARRIVED... ARE YOU READY?

Posted by L. Jarred Corn, Governmental Services Department Chair on Mar 4, 2022 11:15:00 AM
GASBS 87 HAS ARRIVED... ARE YOU READY?

In June 2017, the Governmental Accounting Standards Board (GASB) issued Statement No. 87, Leases (Statement 87). Statement 87 was originally to be implemented by governmental entities for fiscal years beginning after December 15, 2019, but with the unfortunate onset of the COVID-19 pandemic, Statement 87 was postponed until fiscal years beginning after June 15, 2021 and all reporting periods thereafter. The GASB believes that Statement 87 increases the usefulness of governments' financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases.

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Topics: Government Entities

BOWMAN REJOINS BDO ALLIANCE USA

Posted by Bowman & Company LLP on Feb 10, 2022 12:13:50 PM
BOWMAN REJOINS BDO ALLIANCE USA

Bowman & Company LLP is proud to announce that we have rejoined the BDO Alliance USA as a member firm.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services, SOC Suite

Use Business Intelligence to Make Profitable Decisions

Posted by Bowman & Company LLP on Jan 28, 2022 11:15:00 AM
Use Business Intelligence to Make Profitable Decisions

As the saying goes, "knowledge is power." To derive valuable knowledge from your company's operating data requires the development of an effective business intelligence (BI) program.

Simply put, BI is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, managers and others make more informed decisions. For example, if you're clear about which customers spend the most money and what they buy, you can develop marketing campaigns and promotions focused on selling to these high-value customers.

Not surprisingly, a well-designed BI program can provide your business with a significant competitive advantage. Consider the following advantages of a BI program:

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services, SOC Suite

The Funding Has Arrived – Now What? Internal Control Guidance Over Coronavirus State and Local Recovery Funds

Posted by Amy R. Neimeister, CPA, RMA, PSA on Oct 12, 2021 8:30:00 AM
The Funding Has Arrived – Now What? Internal Control Guidance Over Coronavirus State and Local Recovery Funds

Beginning in 2021, and continuing through 2024, various local government entities (LGEs) have been given the opportunity to receive funding from the Coronavirus Local Fiscal Recovery Fund. This relief fund was created by the American Rescue Plan Act of 2021 (ARP) in order help local governments mitigate the financial impacts of the COVID-19 pandemic. This funding was intended to help LGEs strengthen COVID-19 response efforts, replace lost revenue, provide stability for residents and local businesses, and ensure the systemic equality of public health resources and economic opportunities.

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Topics: Government Entities, Federal Services, #COVID-19News

Governments Can Win In the War on Fraud: Accounts Receivable

Posted by Maryann Holloway, CPA, RMA, PSA & Domonic A. Furfari on Sep 7, 2021 8:30:00 AM
Governments Can Win In the War on Fraud: Accounts Receivable

Previously in this series, we wrote that the war on government fraud starts with the five components of internal control known as the Committee of Sponsoring Organizations (COSO) framework. Internal controls are the foundation every government needs to ensure fraud can be detected and prevented, internally and externally. This article continues the discussion by highlighting another important area in which every government should apply this framework.

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Topics: Government Entities, Federal Services

Understanding The Coronavirus State and Local Fiscal Recovery Funds

Posted by Maryann Holloway, CPA, RMA, PSA, Senior Manager on Aug 31, 2021 8:00:00 AM
Understanding The Coronavirus State and Local Fiscal Recovery Funds

If you are a member of the governing body or management of a New Jersey municipal or county government (local government), chances are you are overwhelmed by the amount of information issued by the State of New Jersey and the Federal Government for the Coronavirus Local Fiscal Recovery Fund (LFRF) provided by the American Rescue Plan Act of 2021 (ARP). In this article, we present an overview of the resources available to recipients of the LFRF. At Bowman & Company LLP, we review the material as it is issued and can be a resource to you as you navigate compliance with the funding.

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Topics: Government Entities, Federal Services, #COVID-19News