Scope of Products and Services for Audit:
Contract Life Cycle Support
- Best Contract Type and Why
- Contract Proposals
- Determine Estimated Overhead Rates
- Validate Overhead Rates
- Contract Proposal Adequacy
- Provisional Billing Rates
- Contract Briefs
Monitoring Subcontracts
- Federal Requirements for Subcontracts
- Explain Appropriate Flow-Down Clauses
- Evaluation of Contractor’s Purchasing System for Management of Major Subcontract Programs
Accounting System Requirements
- System Evaluation and Compliance
- Recommendations to Correct Issues
- Assist with System Demonstration of Compliance
Labor Evaluations
- Evaluate Timekeeping Procedures and Internal Controls
- Discussions with Employees on Work Performed
- Analyze Employee Timekeeping Practices
- Reconcile Labor Charges to Payroll and Labor Records
Invoices/Public Vouchers
- Ensure DCAA has Proper Information to Process Billings
- Maintain Adequate Billing System Internal Controls
- Ensure Adequate Support is Maintained for Amounts Billed
- Submit Timely Final Vouchers
Audit Support
- Prepare for Audits
- Understand Audit Objectives and Terminology
- Fulfill Audit Requests
- Understand and Respond to Audit Results
Final Indirect Cost Rates/Incurred Cost Submissions
- Understand Requirements for Incurred Cost Submissions
- Scrub Accounting Transactions for Unallowable Costs
- Complete Submissions
- Review Submissions for Adequacy and Submit Timely Proposals