Making a List and Checking It Twice – Prepping for Your DCAA Audit
Business as usual often involves a good share of chaos – what fire needs to be put out today? But one area of every government contractor’s business that should avoid chaos at all costs is the accounting department.
As a government contractor, especially with Department of Defense contracts, you are likely subject to DCAA audits. Audits are all about your compliance with government rules and regulations.
Cordia Partners is pleased to offer you Chapter 4 of ‘Government Contracting for Dummies – Compliance: The Joy of Being Audited!’ in a PDF format that you may download here.
Cultivate a commitment to compliance
What steps can you take to ensure the best possible audit outcome? Develop a culture of commitment to compliance – that includes people, processes, and technology. Cordia Partners has assisted government contractor organizations in mapping out the accounting processes they need to develop and systems they need to support compliance.
What’s on the auditor’s radar?
The government auditor wants to be sure transactions are recorded accurately and that everyone is complying with established policies.
This chapter of the eBook includes:
- Understanding the need for compliance policies
- Reintroducing FAR and introducing CAS
- Submitting a disclosure statement
- Creating solid timekeeping policies
- Ensuring compensation and benefits are allowable
- Understanding contract procurement policies
- Getting to know your government audit agencies
- Steering clear of non-compliance penalties
Getting out in front of compliance issues is a best practice. The use of an accounting system that helps keep you compliant before, during, and after the audit by providing you with accurate data, process flows, and reports that help you respond to audits confidently, quickly, and effectively will go a long way to ensuring a positive outcome.
The professionals at Cordia Partners help our clients implement software systems that will aid government contractors in maintaining compliance and protecting profits. We are proud to have earned the trust of government contractors.
Contact us for a consultation and let us earn your trust!
