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.
InsightWhat to know about proposed revisions to 2 CFR 200: Uniform Guidance for grants and agreementsChristopher Griffin, Jeff ShapiroOMB has proposed changes to the Uniform Guidance for recipients of federal grants and agreements. Learn more and comment by March 23.
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InsightGet the basics: The DOD's new CMMC StandardBhavesh VadhaniHere’s what to know about the Cybersecurity Maturity Model Certification (CMMC) and how to prepare to comply with it.
Insight5 ways to prepare for the final ASTRO solicitationKristen Soles, Jeff ShapiroHere’s how to start preparing your systems, certifications, and documentation to be competitive in the upcoming ASTRO procurement.
InsightThe wait is over: Cybersecurity Maturity Model Certification (CMMC) Model v1.0 releasedBhavesh Vadhani, Kristen SolesThe CMMC will assess DOD contractors and subcontractors on their implementation of cybersecurity controls, processes, and practices. Here’s what to know.