In its 2017 report to Congress, DCAA stated that it is, "back on track to eliminate its (incurred cost) backlog by September 30, 2018." Although some doubt the validity of DCAA's self-declared success, the real question - what is the impact on contractors - good, bad or both?
This webinar will discuss the implications including the mutual benefits of more current audits, but also the hidden risks to government contractors audited or potentially audited by DCAA:
- Brief description of the regulation which requires contractor incurred cost proposals
- Events that caused DCAA to all-but stop auditing incurred cost proposals; hence, the backlog
- DCAA actions to reduce the backlog, notably no longer auditing "low risk" auditors
- DCAA's historical and current count of proposals awaiting audit and the changing definition of an acceptable inventory
- Types of audits which have been deferred pending DCAA's elimination of the backlog
- DCAA's future audit priorities and how more current audits exposes contractors to more risks (accounting systems in particular)
- "Connecting the dots" or knowing how DCAA expands incurred cost issues (if current) into other compliance issues
This webinar is sponsored by JAMIS.
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Michael Steen
Senior Director, CPA
Mr. Steen is a Director with Redstone Government Consulting, Inc. He provides Government Contract Consulting services to our government contractors primarily related to cost accounting, financial compliance, and DCAA audit expectations. Prior to joining Redstone Government Consulting, Mr. Steen served in a number of capacities with DCAA for over thirty years. Upon his retirement, Mr. Steen was one of the top seven senior executives with DCAA.
Mr. Steen 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.
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