DOD

The Defense Contract Audit Agency’s Fiscal Year 2018 annual Report to Congress

Report to Congress on FY 2018 Activities Defense Contract Audit Agency U.S. Department of Defense Released

NEWS:  The Defense Contract Audit Agency’s  – DCAA – Fiscal Year 2018 Annual Report to Congress, as required by 10 U.S.C. §2313a has been released DCAA Summary: This report highlights DCAA’s audit performance, recommendations to improve the audit process, industry outreach activities, and key accomplishments. As a result of DCAA audits, contract officials saved $3.2 …

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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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DoD Class Deviation Issued On Use of Fixed-Price Contracts

SUMMARY: Award of cost-reimbursement contracts exceeding $50M now requires the head of contracting activity approval. Further, this threshold decreases to $25M applicable to contracts awarded on or after October 1, 2019. We would expect further guidance on the implementation as related to options, mods, IDIQ TOs / DOs, etc. SUBJECT: Class Deviation-Use of Fixed-Price Contracts Effective …

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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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FY 2018 NDAA – House Section 874 (Engrossed)

FY 2018 NDAA – House Section 874 (Engrossed) Craig Stetson, Managing Director, CPA & Paul M. Bailey, Managing Director, CPA | Capital Edge Consulting, Inc.  The House version of the National Defense Authorization Act (NDAA) for fiscal year 2018 contains a provision (Section 874) to repeal contractors’ ability to utilize commercial auditors for purposes of …

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DoD issues a final rule relating to commercial item acquisitions

By Paul M. Bailey, CPA, Managing Director and S. Chase Kunk, J.D., Vice President, Contracts & Procurement DoD issued a final rule, published and effective today, January 31, 2018 to implement sections of the National Defense Authorization Act for Fiscal Years 2013, 2016 and 2018 relating to commercial item acquisitions. About the proposed rule: The …

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