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.
InsightGOVERNMENT CONTRACTING: Effects of multistate teleworking arrangements on state taxationLance E. Rothenberg, John IannottiGovernment contractors with employees working in different states due to COVID-19 may face implications for nexus, apportionment, and withholding. Read more.
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Insight2020 GAUGE Report: Industry roadmap of benchmarks and trends for government contractorsExplore CohnReznick and Unanet’s annual insights into GovCon benchmarks and best practices, with special focus on technology and on the impacts of COVID-19.
Press Release2020 GAUGE Report highlights Government Contracting stressors and prioritiesAnalysis from CohnReznick and Unanet reveals how the pandemic, new regulations, technology and other factors are impacting government contractors
InsightDOD updates guidance for CARES Act Section 3610 implementation and reimbursementJeff Shapiro, Lori AllenDOD has issued two new Class Deviations for reimbursement of leave paid to keep government contractor employees “in a ready state.” Here’s what to know.