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The Defense Contract Audit Agency (DCAA) is responsible for performing audits and providing oversight of defense contracts to ensure compliance with federal regulations and to protect taxpayer interests. It evaluates the accuracy of contractor cost submissions, assesses financial systems, and conducts audits of accounting practices. Additionally, the DCAA provides financial advisory services to the Department of Defense and other federal agencies to assist in decision-making related to contract awards and negotiations.
What else can I help you with?
What is the difference between pre-audit and post-audti?
a pre audit is where the inspecting firm comes in and gives you some advice on what to fix, check etc... the post audit is where the agency comes in to see if you have fixed the problems or came up with answers to the questions they asked during the audit itself.
What is meant by Lack of duty?
Lack of duty is a defense against a lawsuit from a third party suing the auditor. It basically means that if an auditor is being sued then they can counter it by stating that there was no contract that existed between the two parties. It is usually used when a review engagement is done ( a step down from a true audit)
Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
Difference between audit plan and audit program?
an audit program may contain several audit plans
What are the advantages in having an audit committee?
the audit committee communicate with internal audit, external audit and CFO on behalf of the company.
When was Defense Contract Audit Agency created?
Defense Contract Audit Agency was created in 1952.
Who authorizes direct billing of interim vouchers?
DEFENSE CONTRACT AUDIT Agency
When was Defense Contract Management Agency created?
Defense Contract Management Agency was created in 2000.
What is a keystone position at DCMA?
A keystone position at the Defense Contract Management Agency (DCMA) refers to a critical role that is essential for the agency's mission to ensure that defense contracts are fulfilled effectively and efficiently. Individuals in these positions typically possess specialized knowledge or skills that are vital for maintaining oversight of contract performance, compliance, and risk management. The successful execution of responsibilities in these roles directly impacts the agency's ability to support national defense objectives.
What is the location of the Defect Contract Management Agency?
The Defense, not the Defect Contract Management Agency is located in several different places. These cities include Fort Lee, Texas; Canoga Park, California; Greenville, Texas; and finally Boston, Massachusetts.
What is a iternal control administrator?
army audit agency
When was Defense Logistics Agency created?
Defense Logistics Agency was created in 1961.
When was Missile Defense Agency created?
Missile Defense Agency was created in 2002.
When was Defense Information Systems Agency created?
Defense Information Systems Agency was created in 1960.
When was Defense Threat Reduction Agency created?
Defense Threat Reduction Agency was created in 1998.
When was Defense Security Cooperation Agency created?
Defense Security Cooperation Agency was created in 1961.
What is an Government Approved Accounting System?
As discussed in DCAAP 7641.90 (Defense Contract Audit Agency Pamplet), the government reviews the "acceptability of the contractor's accounting system for accumulating costs under a prospective Government contract." DCAA conducts an audit in which the scope is limited to obtaining an understanding of the design of the prospective accounting system and as essential to reach an informed opinion as to whether or not the design is acceptable for accumulating costs under a Government contract. DCAA also will determine if the system will provide reasonable data for projection of costs to complete a contract.Some of the specific items that are reviewed during the audit are:(a) Proper segregation of direct costs from indirect costs;(b) Identification and accumulation of direct costs by contract;(c) A logical and consistent method for the allocation of indirect costs to intermediate and final cost objectives;(d) Accumulation of costs under general ledger control;(e) A timekeeping system that identifies employee's labor by intermediate or final cost objectives;(f) A labor distribution system that charges direct and indirect labor to the appropriate cost objectives;(g) Interim (at least monthly) determination of costs charged to a contract through routine posting to books of account;(h) Exclusion from costs charged to Government contracts of amounts that are not allowable pursuant to FAR Part 31, Contract Cost Principles and Procedures or other contract provision;(i) Identification of costs by contract line item and units if required by the proposed contract; and(j) Segregation of preproduction costs from production costs.=======================================Reference: Department of Defense: Defense Contract Audit Agency. "Information for Contractors." DCAAP 7641.90. January 2005. Located on 12/29/2010 at http://www.dcaa.mil/dcaap7641.90.pdfFederal Acquisition Regulation (FAR) Part 31, Appendix 1 & 2. Located on 12/29/2010 at https://www.acquisition.gov/Far
