The Defense Contract Audit Agency’s (DCAA) audit process is extremely complex. It involves numerous systems and processes. Each process is different, so smaller organizations and contractors often struggle to understand the requirements. Plus, preparing for these audits without a specialized staff is impossible. If you’re a contractor who cannot employ separate CFOs or controllers for these audits, outsourcing is the best option. These third-party experts correct countless mistakes for their clients every year. They teach important topics like how to create accurate cost allocation plans and how to manage indirect rates.
Learning the Requirements in Plain and Simple Language
The DCAA Audit process can be scary if you don’t know the rules and
requirements applicable to government contracting processes. The sources of
these rules are technical manuals such as the “Federal Acquisitions
Regulations” or the “Cost Accounting Standards.” These manuals contain
extremely technical language and are very difficult to understand, especially
for first-time contractors. Why allow your lack of understanding to trigger
poor business performances and decisions? Why lose out on contracts or incur
fines when a top consultant can easily explain these requirements in plain
language? These consultants talk their clients through each audit requirement
and make their lives much easier before the auditing processes begin.
Understanding Audits
Partnering with
a DCAA compliance consultant also helps contractors eliminate
all guesswork from the audit process. Be it a Pre-Award Survey or an Incurred
Cost Audit; top DCAA compliance consultants know all about important audits.
They can even create simulated audits to help their clients practice!
