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More Incurred Cost Audits Of Dot Procurement Contracts Should Be Obtained
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Book Synopsis More Incurred-Cost Audits of Dot Procurement Contracts Should Be Obtained by : CreateSpace Independent Publishing Platform
Download or read book More Incurred-Cost Audits of Dot Procurement Contracts Should Be Obtained written by CreateSpace Independent Publishing Platform and published by Createspace Independent Publishing Platform. This book was released on 2018-07-16 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: More incurred-cost audits of DOT procurement contracts should be obtained : Office of the Secretary
Author :United States. Department of Transportation. Office of Inspector General Publisher : ISBN 13 : Total Pages :17 pages Book Rating :4.:/5 (8 download)
Book Synopsis More incurred-cost audits of DOT procurement contracts should be obtained by : United States. Department of Transportation. Office of Inspector General
Download or read book More incurred-cost audits of DOT procurement contracts should be obtained written by United States. Department of Transportation. Office of Inspector General and published by . This book was released on 2007 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Defense Contract Audit Agency Audits of Indirect Costs at Major Contractors by :
Download or read book Defense Contract Audit Agency Audits of Indirect Costs at Major Contractors written by and published by . This book was released on 1998 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Acquisition Regulation requires a contractor to submit to the contracting officer a final indirect cost rate proposal reflecting actual cost history for the year. The Defense Contract Audit Agency is required to audit the contractor's incurred cost submission and to issue an advisory report. In addition, Title 10, United States Code, Section 2324, "Allowable Costs Under Defense Contracts"; Title 41, United States Code, Section 256, "Allowability of Costs"; and Cost Accounting Standard 405, "Accounting for Unallowable Costs," require the contractor to properly identity and segregate expressly unallowable costs. Both Federal statutes permit the contracting officer to assess a penalty when the contractor includes expressly unallowable costs or other costs previously determined to be unallowable in the incurred cost submission. (see Appendix C). Therefore, an important purpose of the audit is to identify and report claimed costs that the auditor believes are unallowable under the Federal Acquisition Regulation, advance agreements, and specific contract clauses or are unallowable subject to penalties. In FY 1996, the Defense Contract Audit Agency spent about 1.5 million hours (about 1,000 staff years) auditing about $66 billion in direct and indirect incurred costs at major contractors. A major contractor is one with $70 million or more in annual reimbursable contract costs.
Book Synopsis Interagency Task Force Report on the Federal Contract Audit Process by :
Download or read book Interagency Task Force Report on the Federal Contract Audit Process written by and published by . This book was released on 1992 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Audits of Property and Liability Insurance Companies by :
Download or read book Audits of Property and Liability Insurance Companies written by and published by . This book was released on 2000 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Report on Activities by : United States. Defense Contract Audit Agency
Download or read book Report on Activities written by United States. Defense Contract Audit Agency and published by . This book was released on 1982 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Audits of Government Contracts by : United States. General Accounting Office
Download or read book Audits of Government Contracts written by United States. General Accounting Office and published by . This book was released on 1966 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evaluation of Defense Contract Audit Agency Sampling Initiative of Incurred Cost Proposals on Low-Risk Contractors by :
Download or read book Evaluation of Defense Contract Audit Agency Sampling Initiative of Incurred Cost Proposals on Low-Risk Contractors written by and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of our review was to determine the acceptability of the DCAA sampling initiative of incurred cost proposals for low-risk contractors with ADV of $5 million or less. Contractors are required to make annual submissions of the cost incurred on their cost-reimbursable contracts for DCAA audit or review. We performed our evaluation in two phases. We assessed the DCAA test results of sampling low-risk incurred cost proposals for audit and the adequacy of the audits. After evaluating the test results, Headquarters, DCAA, implemented guidance on the sampling initiative and desk-review procedures. In the second phase, we assessed the implementation of the guidance concerning the selection of proposals and the desk-review procedures used to close low-risk incurred cost proposals not selected for audit.
Book Synopsis Report of Operations by : United States. Defense Contract Audit Agency
Download or read book Report of Operations written by United States. Defense Contract Audit Agency and published by . This book was released on 1978 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contract Audit Followup: Defense Contract Management Agency Santa Ana Office's Actions on Incurred Cost Audits by :
Download or read book Contract Audit Followup: Defense Contract Management Agency Santa Ana Office's Actions on Incurred Cost Audits written by and published by . This book was released on 2005 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report addresses the DCMA Santa Ana District Office. DoD Directive 7640.2, "Policy for Follow-up on Contract Audit Reports," February 12, 1988, as amended August 16, 1995, implements OMB Circular A-50. "Audit Followup" and prescribes DoD policies and procedures, including timeframes, for the resolution and disposition of contract audit reports. Incurred cost contract audit reports showing $ 100,000 in cost questioned are required by the directive to be reported and tracked to achieve timely resolution and disposition. Resolution is achieved when the auditor and the contracting officer agree on the actions to be taken on audit report findings or when the contracting officer determines a course of action. Contract audit reports should be resolved within 6 months of issuance and dispositioned, or closed, as soon as possible thereafter. Disposition of the contract audit report occurs when the contractor implements the audit recommendations or the contracting officer's decision, a settlement is reached, or the contracting officer issues a final decision under the Disputes Clause and 90 days elapse without contractor appeal to the ASBCA. Audit reports are overage if not dispositioned within 12 months of issuance. Deviations from the established time periods should be fully justified and documented in the contract file.
Book Synopsis Audits of Federal Government Contractors by :
Download or read book Audits of Federal Government Contractors written by and published by . This book was released on 1990 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Defense contracting by : United States. Government Accountability Office
Download or read book Defense contracting written by United States. Government Accountability Office and published by . This book was released on 2012 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interagency Task Force Report on the Federal Contract Audit Process by :
Download or read book Interagency Task Force Report on the Federal Contract Audit Process written by and published by . This book was released on 1992 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Defense Contracting by : U.s. Government Accountability Office
Download or read book Defense Contracting written by U.s. Government Accountability Office and published by . This book was released on 2017-08-04 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Why GAO Did This StudyDOD has a large volume of contractsthat have not been closed on time.Closing a contract includes tasks suchas verifying that the goods andservices were provided and makingfinal payment to the contractor. Closingcontracts within required time framescan limit the government's exposure tocertain financial risks. One reason whysome contracts are not being closed isthe large backlog of incurred costaudits that must first be completed.These audits, conducted by DCAA,ensure that the costs contractors haveincurred are permissible undergovernment regulations.The Senate Armed ServicesCommittee report accompanying theNational Defense Authorization Act forFiscal Year 2012 directed GAO toreview the criteria and procedures forconducting incurred cost audits, amongother things. In response, GAOassessed (1) efforts to reduce thebacklog of incurred cost audits and (2)the challenges DOD faces inaddressing the contract closeoutbacklog. GAO reviewed DCAA'spolicies and procedures for incurredcost audits; analyzed data on the auditand contract closeout backlogs; andinterviewed officials in the militarydepartments and agencies.What GAO RecommendsGAO is recommending that DCAAdevelop a plan to assess its incurredcost audit initiative; that DCMAimprove data on over-age contracts;and that the military departmentsdevelop contract closeout data and"
Author :United States. Congress. House. Committee on Appropriations. Subcommittee on Transportation, Housing and Urban Development, and Related Agencies Publisher : ISBN 13 : Total Pages :1468 pages Book Rating :4.F/5 ( download)
Book Synopsis Departments of Transportation, and Housing and Urban Development, and Related Agencies Appropriations for 2009 by : United States. Congress. House. Committee on Appropriations. Subcommittee on Transportation, Housing and Urban Development, and Related Agencies
Download or read book Departments of Transportation, and Housing and Urban Development, and Related Agencies Appropriations for 2009 written by United States. Congress. House. Committee on Appropriations. Subcommittee on Transportation, Housing and Urban Development, and Related Agencies and published by . This book was released on 2008 with total page 1468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Civil Agencies Can Do a Better Job of Negotiating Noncompetitive Contracts Priced Over $100,000 by : United States. General Accounting Office
Download or read book Civil Agencies Can Do a Better Job of Negotiating Noncompetitive Contracts Priced Over $100,000 written by United States. General Accounting Office and published by . This book was released on 1979 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Settlement of Contractor Incurred Indirect Cost Audits by :
Download or read book Settlement of Contractor Incurred Indirect Cost Audits written by and published by . This book was released on 1998 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This audit was performed as a follow-on to our evaluation of Defense Contract Audit Agency Audits of Indirect Costs at Major Contractors." The objective of that review was to determine the adequacy of Defense Contract Audit Agency (DCAA) audits of indirect cost claims at major contractors. During the 12-month period ending March 31, 1997, DCAA questioned costs of $1.5 billion dollars. The amount of questioned costs sustained was $.6 billion, a sustention rate of only 40 percent. When contracting officers do not sustain costs that are expressly unallowable under the Federal Acquisition Regulation cost principles, contractors may be reimbursed for unallowable costs. In addition, the penalties and interest on the unallowable costs would not be assessed or collected. Audit Objectives. Our overall objective was to evaluate whether contracting officers were effectively using contract audit reports to negotiate final indirect expense rates and assess penalties when appropriate. We also evaluated whether contracting officers were adequately documenting the basis for their rationale when they disagreed with contract audit reports on the allowability of costs or the assessment of penalties. Audit Results. For the 45 audit reports we reviewed, contracting officers made effective use of DCAA audit reports and sustained the audit recommendations on expressly unallowable questioned costs when negotiating final indirect expense rates. Contracting officers adequately documented the basis for rationale when there was disagreement with contract audit reports on the allowability of costs or the assessment of penalties.
