Find out the top 10 reasons why the DCAA will audit you. Try to avoid these! 1. Inability to provide document traceability 2. Allocations not posted to Contracts or unavailable in standard reports. 3. Failure to Follow the DCAA recommended Timekeeping Policy 4. Incompatibility of records, often from inclusion of unallowable costs 5. Revisit the DCAA Contract Audit Manual (CAM) relative to internal controls. The CAM is the DCAA playbook and available free on the DCAA website. 6.Now would be the ideal time to identify […]
What Are the DCAA Guidelines?
The DCAA Contract Audit Manual includes all of the DCAA’s guidelines. It is an instruction book for auditors who work on behalf the government. It discusses standards for auditing, how to plan for an audit, cost accounting standards, auditing of estimates and proposals, statistical sampling techniques for audits, who can obtain audit reports, how they’re distributed and what they should look like. DCAA Contract Audit Manual
What is The Purpose of The Defense Contract Audit Agency?
The DCAA is designed to perform contract audits for the Department of Defense and provide accounting and financial advisory services regarding contracts and subcontracts to all Dept. of Defense components. Also, the DCAA provides contract audit services to other Government agencies as needed. DCAA products and services include: Preaward Contract Audit Services (Price Proposals, Preaward Services, Forward Pricing Labor and Overhead Rates) Postaward Contract Audit Services (Incurred Cost/Annual Overhead Rates, Truth in Negotiation Act Compliance, Cost Accounting Standards Compliance and Adequacy, Claims, Financial Capability) Contractor […]
Top 4 Ways to Prevent a DCAA Audit?
Revisit the DCAA Contract Audit Manual (CAM) relative to internal controls. The CAM is the DCAA playbook and available free on the DCAA website. Now would be the ideal time to identify and confront any material organizational or operational weakness in your accounting system. If management is still skeptical, turn around and show them the target on your back in the form of DCAA guidance. Address any previous finding from auditors. Any subsequent auditor will likely review these, as well. Prepare for a more confrontational […]
Where are the DCAA offices located?
There is a Headquarters Office and five regional offices which manage 300 Field Audit Offices and suboffices throughout the US and abroad. The Headquarters is located at: 8725 John J. Kingman Road, Fort Belvoir, VA 22060, which is near Washington D.C.
Where can I get a copy of the DCAA Manual?
The DCAA manual is available on an indefinite subscription basis from the Superintendent of Documents, U.S. Government Printing Office (GPO), Order Processing Code: 5852, phone (202) 512-1800 or fax (202) 512-2250. You can also find it online: DCAA Manual
DCAA Investigates: KRB Contract Accounts for Several Fraud Cases
Since 2003, U.S. Government Auditors have reported 32 allegations of contract fraud occurring in the Middle East. According to senior DCAA investigators, the majority of these cases involve the Army’s logistics contract, LOGCAP, with KBR that involves billions of dollars of government money. Investigations continue this week. http://www.armytimes.com/news/2009/05/fed_kbr_overcharges_050409/
DCAA Accounting – How Can I do Accounting for the DCAA?
Most accountants and auditors for the DCAA are college graduates, hundreds of them have advanced degrees, and over half of them (approx. 1,700) are Certified Public Accountants (CPAs). Jobs are posted on www.usajobs.gov