DFARS Business Systems White paper

A white paper by Michael Steen, Senior Advisor & Robert L. Eldridge, CPA, Director

The proposed DFARS amendments related to case 2012-D042 shed light on some of the inefficiencies surrounding the DCAA auditing concerns, both in the burden shift to contractors and the financial burden of juggling both internal audits and external independent CPA audits. When combined with increased DCAA oversight, government contractors could experience oppressive auditing requirements.

Limitation of Funds Clause Equals No Cost Recovery

A White paper by the Redstone Team

When negotiating a DoD contract, it is crucial to fully comprehend the Limitations of Funds clause to avoid later settlement agreement negotiations, which can lead to unrecoverable costs. This Armed Services Board of Contract Appeals (“ASBCA”) case spells out clearly what can happen.

Government Contracting and Uncompensated Overtime

A White paper by Wayne Murdock, CPA

Although hourly employees are protected under FLSA (Fair Labor Standards Act), salaried employees do not enjoy the same protection. With the 2015 revision of FAR 52.237-10, all uncompensated overtime must be accounted for. DCAA and auditors are most concerned about this overtime as a requirement for an adequate accounting system. Although the CAM (Contract Audit Manual) offers plenty of guidance, it is up to contractors to fully understand and implement the accepted methods to prevent DCAA rejection.

The Audit World’s Biggest Myths

A White paper by Wayne Murdock, CPA

It is important to remember that DCAA’s primary goal is to ensure the government gets a fair price for products and services, so the auditor is not visiting your location for your benefit. By knowing this, you can, however, be prepared when dealing with auditors. See why researching and educating your auditing staff can make a DCAA audit a successful experience.