Compliance Stuff

Federal procurement is in a period of significant change that will reshape both how agencies buy goods and services and how contractors manage compliance. 0:00 8:20 The Federal Acquisition Regulation (FAR) is moving away from highly prescriptive, checklist-driven rules toward a more principles-based framework that emphasizes judgment and discretion and necessitates well-developed internal controls. The FAR overhaul’s stated goal is to streamline acquisitions, reduce non-statutory burdens, and expand competition, especially for smaller vendors. For contractors, this shift places greater importance on disciplined risk management —and the most resilient approach is a proactive compliance framework that integrates procurement, employment, and operational practices to manage regulatory exposure holistically. Quick Hits The FAR overhaul is shifting f ederal procurement from prescriptive regulatory procedures to a principles-based framework that relies more heavily on contractor judgment an...