THE FINFORENSIC GROUP
A Financial Investigation Company
              


What  is an Independent Compliance Examination?

  • An "Independent Compliance Examination" ("ICE") is an examination conducted every two years by our firm upon the two year ending period after the Initial Compliance Evaluation. We select a number of public bids obtained by a contractor in terms of the dollar amount during the prior two-year period and conduct analytical testing and review to ensure compliance with various applicable laws and regulations as well as other areas relating to public bidding in the State of New Jersey.

  • Any subsequent changes since the Initial Compliance Evaluation are updated and reflected in current records of the contractor which may resultin in a change in the Contractor's CPR Rating. In order for a contractor to maintain its status on our list of prequalified/preferred contractors, it must continue to have our firm periodically perform an Independent Compliance Audit.


What are the benefits to a public contractor of engaging our organization to periodically conduct an Independent Compliance Examination?

  • Keeps a government contractor current with respect to the most recent developments as to changes in applicable laws and regulations relating to public bidding in the State of New Jersey to avoid or mitigage the risk of having their bid challenged by another contractor or rejected by a governing body.

  • Maintain current status on the list of Prequalified/Preferred Contractors which is made available to government agencies throughout the State of New Jersey as well as surety companies.

  • Viewed in a more positive light and more favorably by a goverment body as to the professionalism, transparency, ethics, integrity and competence level of a contractor which further strenghthens its position of being a more "responsible" and "responsive" bidder.

  • Contractors may now select subcontractors needed to perform certain major branches of public work who are on our list of prequalified/preferred contractors.

  • Avoid or mitigate the associated risk(s) of a bid submitted by a public contractor from being challenged/protested by another contractor or governing body.

  • Substantially limit or even reduce the penalties imposed by federal or state law enforcement authorities or regulators as part of an investigation for violations of law.

  • Be well positioned to be awarded more public bids or obtain public work.


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