A: The first step in preparing for a government investigation or inquiry is to assess the full scope of the matter. This includes determining the nature of the investigation or inquiry, the agencies involved, and the potential consequences. The company should also determine the resources that will be needed, including staff, outside counsel, and subject experts. Additionally, the company should consider whether targeted education is needed for Board members or other company officials, and which employees, vendors, and/or agents need to be notified.