Tag Archives | incurred cost audits

Qualified Opinions Rising on DCAA Audits

The DCAA released a Memorandum for Regional Directors on Audit Alert on Access to Contractor Employees discussing how it is imperative to have access to contractor employees by way of interviews and observation through the different stages of an audit. This access is required to fulfill the requirement of Generally Accepted Government Auditing Standards (GAGAS) for […]

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DCAA has more work to do

A report released by The Government Accountability Office (GAO) in December indicates that DCAA’s effort to reduce the backlog of incurred cost audits shows promise, but additional management attention is needed to close aging contracts.  Some details of DCAA’s initiative include raising the threshold–which triggers an automatic audit from $15 million to $250 million, revising […]

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