Craig Stetson has over 25 years of direct experience in government contract accounting, pricing, subcontract management, regulatory and federal contract compliance, business system implementation, and internal control oversight. His industry experience includes aerospace and defense, manufacturing, construction, architecture and engineering, information and communications, higher education, and not-for-profits.
Mr. Stetson is experienced in a wide range of cost accounting and regulatory compliance matters related to government contracts and grants, including claims preparation and negotiation; cost allowability; application of Federal Acquisition Regulation (FAR) and OMB Circular requirements; accounting and business systems assessment related to government contract compliance requirements, internal control sufficiency and overall self-governance; cost estimating, accounting and auditing of federal contracts and grants; and, application and interpretation of Cost Accounting Standards (CAS).
Prior to joining Capital Edge, Craig was a director at PricewaterhouseCoopers, Baker Tilly Virchow Krause, Navigant Consulting, and KPMG. He began his career as an auditor for the Defense Contract Audit Agency (DCAA).
Craig’s extensive government contracting experience includes assisting a global U.S. government contractor with response to and resolution of U.S. Department of Justice fraud investigation related to alleged overcharging and cost accounting compliance matters; supporting a global construction management contractor with resolution of Cost Accounting Standards noncompliance matters, including calculation of cost impacts and liaison with government; designing and documenting complex entity-wide cost accounting structure; helping a major defense contractor prepare, submit and negotiate termination for convenience settlement proposals; and working under direction of legal counsel of large pharmaceutical and medical supplies provider to analyze sales transactions and business processes for compliance under GSA Schedule contract requirements, including calculation of potential price reductions due to most favored customer and sales discount practices.
Craig also has experience working with internal control and reporting environments, including assessing internal control design and compliance of various business systems under applicable government contract regulatory requirements and DCAA guidance of a global diversified contractor performing under U.S. government contracts throughout the world. He has worked with commercial and foreign entities, U.S. federal agencies, and state departments of transportation.
Affiliations and Publications
In addition to developing Capital Edge Consulting’s customized client training, Craig is a nationally recognized speaker who teaches classes through Federal Publication Seminars, National Contract Management Association and affiliates. He has lectured on a number of topics, including Government Contract Accounting, Federal Acquisition Regulations, Cost Accounting Standards, Cost & Price Analysis, Incurred Cost Submissions, Introduction to Government Contracting, and Government Contractor Business Systems Compliance. Craig is a member of a number of professional organizations, including American Institute of Certified Public Accountants, California State Society of Certified Public Accountants, National Defense Industrial Association, Armed Forces Communications and Electronics Association, and National Contract Management Association.
Expertise and Areas of Focus
Specific areas of government contract consulting expertise include:
Federal Acquisition Regulations (FAR)
Cost Accounting Standards (CAS)
Truth in Negotiations Act (TINA)
Defense Contract Audit Agency (DCAA) audit support and audit defense
Government Contracts Training (Accounting & Compliance related)
Incurred Cost Submissions
Forward Pricing Rates
Cost Impact Statements
CAS Disclosure Statements
Termination for convenience settlements
Requests for equitable adjustments
Business system processes and related internal control
B.S. Accounting and M.B.A
Craig received a Bachelor of Science degree in Accounting from Syracuse University and a Master of Business Administration degree from California State University – Long Beach. He is a Certified Public Accountant, licensed in California, and a Charted Global Management Accountant.