Overview

Redstone GCI understands the importance of having a compliant and DCAA-approved accounting system as a government contractor. Not only does your accounting system have to be approved for executing cost-type contracts, but often, it is a requirement to even bid on certain types of contracts. Our experts have extensive backgrounds in the design, implementation, and audit of accounting systems and will help you comply with FAR Part 31 Cost Principles regulation and DCAA audit expectations.

We support all contractors, from small contractors preparing for their first pre-award accounting system review to large companies being audited under the DFARS criteria (DFARS 252.242.7006). Our consultants come from the industry and government audit sides, offering you a comprehensive approach to ensuring your compliance. We help design a system that works for your size and specific needs, using best practices while meeting government auditors’ requirements and demands.

Services

  • Policy and Procedures– Policies and procedures are vital for a compliant accounting system. Our experts can review, enhance, or develop new accounting policies and procedures tailored to your company.
  • Mock Audits– To strengthen your company’s existing processes, we offer mock auditing of your system, providing you with a gap analysis and report for improvement.
  • DFARS Compliance– DFARS, the DoD supplement to the FAR, has precise requirements for DoD contractors; however, it is our experience that these requirements are utilized by government auditors as expectations for all contractors, regardless of your procurement agency. Our team of experts provides guidance, education, and expertise on the requirements under DFARS 252.242.7006. These requirements include many different areas of compliance, such as the control environment, billing, labor, and IT as well as the general accounting compliance.
  • DCAA Audit Support– Audits can be intimidating. We can act as a liaison between you and DCAA, or as a supporting member of your team, during an audit and provide much-needed support and guidance through the process.
  • Mitigating DCAA Audit Findings– DCAA or other government auditors come to audit, and contractors are not always prepared. If an audit results in audit findings, we can help you respond and mitigate those findings by developing a corrective action plan that satisfies auditor expectations. You don’t want to risk having your system deemed inadequate.
  • Implementation Assistance – Whether implementing from scratch or from corrective actions discovered in a mock audit or DCAA audit, our experts can help your team implement necessary changes.
  • Training– Knowledge is power. Our experts will provide on-site or virtual training on accounting system requirements and auditor expectations, providing your team with the knowledge to manage and maintain the accounting system independently.
  • Internal Audit Support– Maintaining a compliant system requires internal oversight and evaluation on a consistent basis. We can serve as your internal auditor or as part of your internal audit team to provide management with perceived risks and compliance issues needing remediation on an ongoing basis.
  • System Growth – As you grow and change, so will the needs of your accounting system and cost accounting structure. Our consultants work with you to guide you through your growing pains, including help in determining when a more complex indirect rate structure would be beneficial or when Cost Accounting Standards (CAS) are applicable.
  • Acquisition Growth and Systems Alignment – Acquisitions are part of doing business, but when it comes to implementing and aligning accounting systems and procedures, it can be difficult. When acquiring new entities, we help you determine if your new acquisition should be rolled into your existing system or if you should remain separate, with only home office allocations structured and added.

Practice Leader

Mary Beth JacksonMary Beth Jackson
Practice Leader
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