#compliance

DCAA Update

MEMORANDUM FOR REGIONAL DIRECTORS: Audit Guidance on Using Materiality in Incurred Cost Audits

Newly released MRD: materiality thresholds in conjunction with incurred cost proposal audits. This is new, i.e., objective calculations for materiality determinations, and is the result of 2018 NDAA provisions.  The revised audit program and CAM Chapter 6 are not clear – but lean towards the exclusion of amounts under the threshold from the application of audit …

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5 Ways to Prep for the Audit While Preparing the Incurred Cost Proposal

5 Ways to Prep for the Audit While Preparing the Incurred Cost Proposal Jennifer Rettelle, Director of Operations | Capital Edge Consulting, Inc. The requirement to submit a final indirect cost rate proposal, more commonly referred to as the Incurred Cost Proposal or Incurred Cost Submission (ICS) is contained in FAR clause 52.216-7(d)(2)(i) – Allowable …

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Government Accountability Office (GAO)

GAO Release: Recommendation to monitor and ensure contractor business system reviews are conducted in a timely fashion.

CONTRACTOR BUSINESS SYSTEMS: DOD Needs Better Information to Monitor and Assess Review Process GAO-19-212: Published: Feb 7, 2019. Publicly Released: Feb 7, 2019. The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for Congress. Often called the “congressional watchdog,” GAO examines how taxpayer dollars are spent and provides Congress and federal agencies …

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DCAA Audits of Government Contractor Business Systems

DCAA Audits of Government Contractor Business Systems – Key Risk Mitigation Strategies to Promote an Adequacy Determination Craig Stetson, Partner | Capital Edge Consulting, Inc. The Defense Contract Audit Agency (DCAA) recently indicated as a 2019 agency initiative a significant increase in their dcaa audit efforts around contractor business systems. The DCAA’s renewed focus on …

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DCAA Update

Business Systems Compliance for 2019

Business Systems Compliance Update for 2019 – the DCAA indicated recently a current initiative to significantly increase their audit efforts in 2019 of contractor business systems (accounting, estimating and MMAS). 2018 Reports showed the following data for Business Systems Audits: Accounting Systems: 447 MMAS: 7 Estimating: 11 2019 Planned Business Systems Audits: Accounting Systems: 995 …

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COMPLIANCE UPDATE: New DCAA audit program for accounting system audits under DFARS 252.242-7006.

New DCAA audit program for accounting system audits under DFARS 252.242 7006 New DCAA audit program for accounting system audits under DFARS 252.242 7006 The Department of Defense (DOD) implemented a new DCAA audit program dictating new requirements for contractor’s accounting systems. This new dcaa audit program appears to be a mix of prior accounting …

COMPLIANCE UPDATE: New DCAA audit program for accounting system audits under DFARS 252.242-7006. Read More »

Compliance Roundup – What Government Contractors Should Know – Compliance Updates to be aware of now and through 2018

Compliance Roundup – What Government Contractors Should Know – Compliance Updates to be aware of now and through 2018 Craig Stetson, Partner with Capital Edge Consulting, Inc. Various federal agencies during the first half of 2018 have issued final and proposed rules or agency direction related to regulatory compliance requirements associated with U.S. federal government …

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2018 Government Contract Accounting and Regulatory Update October 17-18, 2018

The Capital Edge Team invites you to the 2 for 1 Registration – 2018 Government Contract Accounting and Regulatory Update October 17-18. Register online and bring a colleague free. Reference promo code 2FOR1ARU2018.  October 17-18, 2018 The Westin Washington D.C. City Center Washington, DC $495 for two registrations!!!! *Register now and bring a colleague at no charge. Reference …

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Common Preparation Pitfalls with the Final Indirect Cost Rate Proposal

Common Preparation Pitfalls with the Final Indirect Cost Rate Proposal Each year, Capital Edge works with numerous companies either developing, assisting with, or reviewing their final indirect cost rate proposals. The requirement to submit a final indirect cost rate proposal, more commonly referred to as the “ Incurred Cost Proposal or Incurred Cost Submission (ICS) …

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