Bring any seminar or course directly to your staff through the Federal Publications’ In-House Presentations Program.
Depending on the types of contracts you have, you can face a vast amount of audit oversight. It can translate into disallowed costs, penalties, fines, and loss of credibility with government customers. Understanding the regulatory government audit mindset and how to prepare for a broad range of audits will place you a step ahead in mitigating the risk of adverse audit problems.
To reduce and avoid audit problems, contractors must understand the audit objectives, techniques, specific areas of audit emphasis, and the options for analyzing and effectively responding to audit findings. Employing best practices in dealing with auditors on a regular basis and formulating an effective chain of communication during the course of various audits, will often achieve this objective. But, mitigating the risk of audit problems and successfully resolving audit problems also requires a thorough understanding of certain audits that most frequently raise adverse issues, as well as a contractor’s responsibilities and rights for effectively addressing questioned costs or challenges to internal controls that result from audits. Government contractors must also be vigilant and diligent in understanding the sequence of steps and levels of government procurement authorities in resolving audit disputes. Understanding how to prepare for audits; the audit objectives and procedures employed by auditors; how to interact with auditors; and effective methods for deterring and addressing audit issues will mitigate the risk of cost disallowances, loss of contract opportunities, and an image of tainted credibility with the government.
To meet the objectives of the course, we have assembled a distinguished, experienced Course Faculty. They are instructors who have an extensive background in understanding Government audits and in how to overcome potential audit problems. The professionals leading this course have experience both as DCAA auditors and as consultants to government contractors and have an understanding of both the audit perspective and the government contractor perspective. They work in a consulting profession where they are continuously assisting government contractors in understanding and resolving audit issues.
- Preparing for audits and effectively interfacing with auditors before, during and upon conclusion of audits
- Understanding contractor and government rights within the audit process
- Dealing with specific types of audits and the more frequent issues within incurred cost proposals, bid proposals, billing rates, cost accounting systems, internal controls, defective pricing, costs, and Cost Accounting Standards, etc.
- Being prepared to address potential audit challenges of issues such as travel costs; professional and consulting fees, advertising and selling costs; intercompany transfers; access to records and to employees; DCAA billing cost suspensions, and; reasonableness and allocability
- Resolving audit disputes through pro-active interface with auditors, audit managers, contracting officers, and other Government authorities
- Evaluating audit challenges and preparing effective responses to audit issues
- DCAA audit standards, methods, tools, and procedures for conducting audits
- Understanding DCAA’s role of investigative support and in identifying and reporting suspected irregularities.
- Understanding oversight techniques and circumstances which elevate audit risk in order to mitigate risk of audit findings
- The procurement culture driving audit oversight, and DCAA/DCMA organizational structure, charter, and fundamental audit objectives
- Following current procurement trends and their impact on DCAA areas of emphasis, and how contractors should prepare for the audits
We look forward to your participation
Dates and Locations
Michael E. Steen is a Director with Redstone Government Consulting, Inc. and a specialist in complex compliance issues to include major contractor cost accounting & business system regulations, financial compliance, resolution of DCAA audit issues, Cost Accounting Standards application, litigation support, and claims preparation. Prior to joining Redstone Government Consulting, Mike served in a number of capacities with DCAA for over thirty years, and upon his retirement, he was one of the top seven senior executives with DCAA. Mike Served as a Regional Director for two DCAA regions, and during that time was responsible for audits of approximately $25B and 800 employees.
Mike was also involved in conducting or managing a variety of compliance audits, to include cost proposals, internal controls and related systems, Cost Accounting Standards, claims, defective pricing, and special programs. He was also actively involved in contract disputes and litigation, and has prepared and presented various lectures and seminars to DCAA staff and business community leaders. Mike also served as a member of the Executive Steering Committee for DCAA during his tenure as a Regional Director.
Mike has a BS Degree in Business Administration from Wichita State University. He is also a graduate of the DCAA Director's Fellowship Program in Management, and has a Masters Degree in Administration from Central Michigan University. Mr. Steen also completed a number of OPM’s management and executive development courses.
Darryl Walker, CPA, is a Director for Government Compliance with Redstone Government Consulting, Inc., and formerly served as an Owner and Technical Director for the Beason & Nalley Government contract consulting group for over ten years. He provides content for our Government Insights Newsletter, provides training courses to government contractor and business community leaders, and consults with government contractors regarding a vast range of issues including cost proposals and presentations, internal controls, proposal preparation, compliance with the FAR and Cost Accounting Standards, litigation support, specialized claims, defective pricing issues, liaison with procurement and DCAA audit officials, and accounting and management systems compliance.
Prior to joining Redstone Government Consulting, Darryl worked with the Defense Contract Audit Agency (DCAA) for almost 34 years in a variety of technical and management capacities. During his tenure with DCAA, Darryl provided audit services to a wide range of government agencies, including the Department of Defense, NASA, Department of Energy, Department of Interior, General Services Administration, and Department of Justice. During his experience with DCAA, Darryl audited over 3,000 government contractors throughout the Southeastern United States, Europe, and the Middle East.
Darryl is a graduate of Texas Wesleyan College with a major in accounting and minor in economics.
MEET YOUR CONTINUING EDUCATION CREDIT REQUIREMENTS
SEE INDIVIDUAL COURSES FOR AVAILABLE CREDITS
Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
NCMA: CONTRACT MANAGER CERTIFICATION
All Federal Publications Seminars courses meet the course requirements of the National Contract Management Association’s certification programs. We are a proud Education Partner of the NCMA.
CPE: CONTINUING PROFESSIONAL EDUCATION
Federal Publications Seminars is part of West Professional Development, which is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
This Program is eligible for: 13.0 (CPE) hours of credit
Program Level: Intermediate
Program Prerequisite: None
Advance Preparation: None
CLP: CONTINUOUS LEARNING POINTS
APPROVED FOR CLP BY
DEFENSE ACQUISITION UNIVERSITY
Defense Acquisition Workforce members must acquire 80 Continuous Learning Points (CLP) every two years from the date of entry into the acquisition workforce for as long as the member remains in an acquisition position per DoD Instruction 5000.66. We will provide you with documentation of points awarded for completing the event.
This Program is eligible for: 11.0 (CLP) hours of credit
CLE: CONTINUING LEGAL EDUCATION
States have widely varying regulations regarding MCLE credit. LegalEdcenter is an approved provider in AL, AK, AR, CA, GA, IL, ME, MO, MS, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, and WV. Credit may be applied for in other jurisdictions on request and in accordance with state MCLE rules.
This Program is eligible for:
11.0 (60 minutes), 13.0 (50 minutes)