This complimentary webinar hosted by Federal Publications provided an update and overview of current “Hot Topics” related to contracting with the federal government and interacting with the Defense Contract Audit Agency (DCAA). The webinar was intended for professionals in the areas of accounting, compliance, finance, and program or contract management.
Presented by Chad Braley of Capital Edge Consulting, you will hear about recent legislation impacting the government’s limit on employee compensation that can be charged on government contracts, and the challenges to the government contracting community in complying with the new requirements.We will also discuss recent DCAA guidance to its auditors related to the identification of “expressly” unallowable costs. The classification of a cost as “expressly” unallowable is of course important because if such costs are claimed by a contractor on government contracts, the penalty may be as much as 200% of the claimed “expressly” unallowable amount.Next, there have been a couple of recent approaches that the DCAA has adopted to assist auditors in eliminating their audit backlog of Incurred Cost Submissions (ICS). Some elements of their approach will impact whether or not outstanding contractor ICS years (submissions) are actually audited.Finally, we will discuss DCAA’s expanded review and testing related to processing interim payment vouchers, which will negatively impact contractor resources to support the additional documentation requirements and on-site testing by the DCAA.