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
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 billion in defense spending last year—significant savings that can be reinvested in our warfighters or go back to the treasury.
We examined nearly $409 billion in defense contractor costs, identified over $9.6 billion of audit exceptions across 3,717 audit reports, and supported Contracting Officers with other valuable products and services to help them ensure fair and reasonable contract prices.
Additionally, we continued to improve communication and coordination with our acquisition partners, resulting in responsive approaches that met their needs and timelines.
In FY 2018, DCAA successfully eliminated the incurred cost backlog. This was a significant undertaking by the entire workforce resulting in 8,482 incurred cost years closed with a total dollar value of $392.2 billion.
We also worked with DCMA and industry to lay the groundwork for the use of Independent Private Accountants to conduct select incurred cost audits.
We feel we have laid a solid foundation in this area to ensure they will be prepared and successful. We look forward to continuing this coordination. Our vision, Every audit or service we deliver is on time, on point, and highly valued is demonstrated by our workforce every day. I look forward to working with Congress and other stakeholders to achieve the vision for acquisition reform. I am proud of our workforce and our ability to deliver outstanding audit products and services to the Department in FY 2018.