In this week’s Capital Edge Tip Line, CEO Chad Braley discusses Q1 audit activity, which is ramping up and evolving across the government contracts and agency landscape.
Key Updates from This Week’s Tip Line
What You Need To Know
What’s happening? Audit activity is ramping up and evolving across the contracts and agency landscape.
What's being discussed?
DCAA is creating a centralized audit function. Their current focus is government property audits, previously handled by DCMA, and TINA audits for defective pricing. This centralized function doesn’t change the audit execution but will supposedly standardize the management process.
Civilian agencies are stepping into ICS audits. The Department of the Interior is performing ICS audits across the civilian agency space — even where DOI contracts are not involved.
CAS changes are underway.Several CAS standards are being eliminated (404, 408, 411), while others are under review (407, 415, 416). New thresholds for disclosure statements are also being defined, and CAS coverage threshold changes will take effect June 30th.
DoWFAR Overhaul deviations are now active. 31 class deviations for the DoW went into effect February 1st.
Trade Agreements Act thresholds have increased. Thresholds have increased and vary depending on the countries involved.
We’re seeing more OTAs resembling cost-reimbursable contracts. This shift brings different auditability considerations contractors should be thinking about.
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