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Murray, E. and B. Lennett (2005). 'DCAA Audit Compliance: What's HOT Now?'. Contract Management'. Contract Management 45(10): 56.
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Audit requirements and priorities, and even the level of scrutiny applied by the Defense Contract Audit Agency (DCAA), have shifted with the changing times. As in the past, government auditors want to provide accurate numbers for cost reimbursement contract and subcontract work, along with verification of time worked, costs for time and material contracts, and cost data for fixed priced work. In addition to these traditional expectations, the government has created new requirements for increased audit scrutiny. Although a number of organizations within the government provide audit services, the premier agency is the DCAA, and most auditing organizations follow its lead. This article highlights the current hot buttons for the DCAA audit. The top eight factors critical to audit compliance success are:
- timekeeping,
- labor charging,
- uncompensated overtime,
- indirect rate computations,
- costs by final cost objectives,
- incurred cost submittals,
- unallowable costs, and
- travel and expense reporting.
