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Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)

Government Contracts & Investigations

6] DCAA is authorized to examine contractor records related to proposals, discussions, pricing, and performance to evaluate the accuracy, completeness, and currency of cost or pricing data. [7] The Department of Defense (DoD) has designated DCAA to establish and conduct a program for performing regularly scheduled defective pricing audits. [5]

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What is Enterprise BI? Everything You Need to Know

Capital Edge Consulting

Instead, the DCAA evaluates whether a contractor’s accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.

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Understanding the Importance of a DCAA Approved Accounting System

Capital Edge Consulting

Instead, the DCAA evaluates whether a contractor’s accounting system meets the required standards based on specific accounting methods, procedures, and internal controls. Internal Controls : Strong internal controls are necessary to ensure the accuracy and reliability of financial reporting.

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The FY2024 NDAA and its Nexus to the FAR and DFARS

Capital Edge Consulting

The following are subject matter areas that represent critical timekeeping internal controls. This inquiry aims to determine how an employee records overtime, which will be evaluated for consistency in costs (overtime). Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract.

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OMB Final Rule Rewrites the Uniform Guidance for Grants, Cooperative Agreements, and Other Federal Financial Assistance

Government Contracts Legal Forum

Additions to the Post-Award Requirements Regarding Sourcing 2 CFR 200.317 allows Tribal Government recipients to use their own internal procurement standards rather than complying with federal procurement standards prescribed in 2 CFR 200 200.318 through 200.327.

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Application of CAS to Indefinite Delivery Vehicles (IDVs)

Capital Edge Consulting

The following are subject matter areas that represent critical timekeeping internal controls. This inquiry aims to determine how an employee records overtime, which will be evaluated for consistency in costs (overtime). Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract.

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Conformance of CAS to GAAP

Capital Edge Consulting

The following are subject matter areas that represent critical timekeeping internal controls. This inquiry aims to determine how an employee records overtime, which will be evaluated for consistency in costs (overtime). Inadequate recordkeeping can lead to low rankings in an audit or even worse: loss of contract.