10:24 am, July 13, 2014

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  • New DCAA audit thresholds
    Marcelle Green
    Some smaller companies are thinking these higher thresholds amount to a Get Out of Jail Free card. It is far from that. First, any small contractor acting as a sub-contractor should remember that the total contract, not his/her small portion, is the contract amount and, because of that, the trigger for an audit. Second, what this really means is that a contractor may avoid a pre-award audit survey, think everything is okay, then get audited later an run into serious problems (when it's too late to fix those problems). Anyone who thinks this is an excuse to not worry about having a DCAA-compliant accounting system may be in for a rude surprise.
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