The Defense Contract Audit Agency (DCAA) recently released its Fiscal Year 2022 Report to Congress. By law, the DCAA is required to submit an annual report detailing the DCAA’s activities for the previous year.
In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with the DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office Manager and Senior Financial Liaison Advisor, and Jacquelin LaClair, a Manager in the Firm’s GovCon practice who spent 10 years working with the DCAA and the Defense Contract Management Agency (DCMA), discuss key takeaways from the DCAA’s report as an update to Cherry Bekaert’s DCAA Update webinar in February 2023.
Listen in to find out about:
- Number of audits conducted by the DCAA, noted questioned costs and which audits were performed more frequently
- Overall return on investment (ROI) for each audit type and what this means for government contractors
- Investigative cases
- Sustention rates by audit, how those rates are important to the DCAA and how this impacts contractors
- Timing to complete an audit, by audit type
- Number of incurred cost audits performed by Independent Public Accounting Firms
- How the DCAA assists with Other Transaction Authorities (OTAs), the overall impact to the DCAA and current trends
- Difference between an incurred cost audit and a low-risk memo, when one is issued over the other and how many audit reports and memos were issued by the DCAA in FY22
- Post-pandemic changes occurring within the DCAA
- Establishment of Operations Business Enterprise and Data Intelligence Division (OBD) and what is currently being worked on with the DCAA
- DCAA’s External Peer Review
Whether you are a small business expecting your first audit, or a large contractor preparing for one of your many different audits, Cherry Bekaert’s GovCon consultants work with clients to prep for audits, resolve DCAA findings and have extensive hands-on experience in this subject. If you have any questions specific to your situation, we are available to discuss your situation with you.
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