Growth, acquisitions, new business lines, or new contract types can be another prompt that you need to review your current accounting system to determine if it’s meeting your current needs.
The biggest pitfall of all is not asking for help. The first step in planning for a DCAA audit includes a walk though of internal control, an understanding of segregation of duties, and a review of policies and procedures. These items set the tone for the rest of the audit. By addressing segregation of duties, having documented policies and procedures, and making sure you’re using the right accounting system, you can place increased reliance on the data within your financial statements and ensure a smooth DCAA audit.
For over 40 years, CohnReznick has provided comprehensive services to assist government contractors with a full life cycle approach to winning and managing contracts. We ensure your financial and procurement processes are compliant, efficient and effective - so you can focus on what matters most, profitable growth.
InsightFederal agencies and lawmakers move to enforce disclosure of contractor data breachesBhavesh Vadhani, Rich MeeneUsing the False Claims Act (FCA), the Justice Department is pushing for disclosure of data breaches by government contractors. Here’s what you need to know.
InsightInvestors: Are your portfolio companies ready to compete for federal infrastructure opportunities?Now is the time for private equity firms to assess portfolio companies’ readiness to win and execute on government projects. Read more.
InsightFederal contractors should prepare now for a government shutdownRebecca Kehoe, Richard MeeneWith the current political climate, anything is possible; including a government shutdown. Federal contractors should be preparing for a shutdown now. Learn more.
Insight2021 GAUGE Report: Creating a winning proposalWith new federal infrastructure funding and contracts coming, it’s more important than ever to know where the market is going. Download the 2021 GAUGE Report now.
InsightFinal rule regarding the limitations on subcontracting: What contractors need to knowJeff ShapiroFinal ruling and amending of the Federal Acquisition Regulation (FAR) regarding the standardized limitations on subcontracting will be effective Sept. 10. This article addresses key points to be aware of as a government contractor. Learn more.