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Defense Contract Audit Agency Tightens Audit and Auditor Independence Practices

The Defense Contract Audit Agency (DCAA) has been the target of Government Accountability Office (GAO) criticism that has resulted in changes in the way they conduct business and interact with contractors. ... During 2008 and 2009, the Defense Contract Audit Agency (DCAA) was criticized by the...

Important New DOD Reg on Internal Controls for Contractor Business Systems

The Department of Defense (DOD) has promulgated DFARS 215.407-5-70 that demands almost perfect internal control for contractor business systems and includes significant sanctions and penalties for failure to comply. Failure to comply with the regulation may have dire financial consequences for DOD contractors...

Important New DOD Reg on Internal Controls for Contractor Business Systems

The Department of Defense (DOD) has promulgated DFARS 215.407-5-70 that demands almost perfect internal control for contractor business systems and includes significant sanctions and penalties for failure to comply. Failure to comply with the regulation may have dire financial consequences for DOD contractors...

Compensation for Government Contractors: What Is Reasonable?

[ Editor's Note : This narrative is derived from Accounting for Government Contracts: Federal Acquisition Regulation § 11.02[2][a] (Matthew Bender) .] One of the most significant topics in the area of government contracts is executive compensation. In early 2012, in J.F. Taylor, Inc. [ASBCA...

Compensation for Government Contractors: What Is Reasonable?

[ Editor's Note : This narrative is derived from Accounting for Government Contracts: Federal Acquisition Regulation § 11.02[2][a] (Matthew Bender) .] One of the most significant topics in the area of government contracts is executive compensation. In early 2012, in J.F. Taylor, Inc. [ASBCA...