Seminar
Accounting System Compliance for Federal Contractors
Seminar Dates and Location Instructors
Contact us for In-House Training John Dyer and John Van Meter
Overview
The seminar covers accounting system compliance for federal government contractors. The FAR (Federal Acquisition Regulation) requirements are covered as well as the additional requirements for Department of Defense contractors. The DFARS (Defense Federal Acquisition Regulation Supplement) established detailed business systems requirements for contractors effective May 18, 2011. There are six systems one of which is accounting. The accounting business system requirements are covered by DFARS contract clause 252.242-7006. This clause applies to cost-reimbursement, incentive type, time-and-materials, or labor-hour contracts as well as contracts with progress payments based on costs or a percentage or stage of completion. There are no exceptions for small businesses. The contract clause outlines 18 system criteria and states that other subsystems may apply. Defense Contract Audit Agency (DCAA) is the agency that is responsible for auditing contractor accounting systems for the DoD (Department of Defense).
DCAA has already issued three separate audit programs for the accounting system audit. There is a master accounting system audit program, a program for the control environment and a program for billing. These audit programs are in-depth. In addition to these three audit programs, there are audit programs for subsystems that could become part of the overall accounting system audit. It will likely be a challenge for an auditor to coordinate all of these programs.
The seminar will not only cover the detailed DFARS accounting system criteria and DCAA's audit approach, it will also cover compliance methodologies and tools. A contractor should take a proactive approach to accounting system compliance. The old days of using DCAA's audit program to perform some checking prior to the government audit, does not work. The seminar will provide real life examples of how to structure an accounting system compliance approach.
Click here for Seminar Agenda
Accounting System Compliance for Federal Contractors
Seminar Dates and Location Instructors
Contact us for In-House Training John Dyer and John Van Meter
Overview
The seminar covers accounting system compliance for federal government contractors. The FAR (Federal Acquisition Regulation) requirements are covered as well as the additional requirements for Department of Defense contractors. The DFARS (Defense Federal Acquisition Regulation Supplement) established detailed business systems requirements for contractors effective May 18, 2011. There are six systems one of which is accounting. The accounting business system requirements are covered by DFARS contract clause 252.242-7006. This clause applies to cost-reimbursement, incentive type, time-and-materials, or labor-hour contracts as well as contracts with progress payments based on costs or a percentage or stage of completion. There are no exceptions for small businesses. The contract clause outlines 18 system criteria and states that other subsystems may apply. Defense Contract Audit Agency (DCAA) is the agency that is responsible for auditing contractor accounting systems for the DoD (Department of Defense).
DCAA has already issued three separate audit programs for the accounting system audit. There is a master accounting system audit program, a program for the control environment and a program for billing. These audit programs are in-depth. In addition to these three audit programs, there are audit programs for subsystems that could become part of the overall accounting system audit. It will likely be a challenge for an auditor to coordinate all of these programs.
The seminar will not only cover the detailed DFARS accounting system criteria and DCAA's audit approach, it will also cover compliance methodologies and tools. A contractor should take a proactive approach to accounting system compliance. The old days of using DCAA's audit program to perform some checking prior to the government audit, does not work. The seminar will provide real life examples of how to structure an accounting system compliance approach.
Click here for Seminar Agenda