Potential for No More DCAA Incurred Cost Audits!

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Defense government contractors could potentially see no more DCAA incurred cost audits beginning October 1, 2018. Section 820 of the National Defense Authorization Act (NDAA) for Fiscal Year 2017 has established a new and independent Defense Cost Accounting Standards Board (DCASB) to oversee cost accounting standards across all of Department of Defense (DoD). The three primary objectives for this new board are:

  1. Review cost accounting standards created by the CAS Board and provide recommendations
  2. Implement cost accounting standards across the DoD
  3. Develop standards to ensure DoD’s adherence to standards established by the CAS Board or GAAP

The board’s first order of business will …read more

Read more here:: Government Contracting

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