The Defense Contract Audit Agency (DCAA) provides audit and financial advisory services to Department of Defense (DoD) and other federal entities responsible for acquisition and contract administration.
Defense Contract Audit Agency (DCAA), while serving the public interest as its primary customer, shall perform all necessary contract audits for the Department of Defense (DoD) and provide accounting and financial advisory services regarding contracts and subcontracts to all DoD components responsible for procurement and contract administration. These services shall be provided in connection with negotiation, administration, and settlement of contracts and subcontracts to ensure taxpayer dollars are spent on fair and reasonable contract prices. DCAA shall provide contract audit services to other Federal agencies as appropriate.
Government contractors must maintain adequate internal controls, policies and procedures, and reliable accounting systems to become DCAA compliant. Additionally contractors under Cost Plus Fixed Fee (and other contract types) must submit an adequate incurred cost proposal together with supporting data for each fiscal year within six months after the end of those fiscal years. This session will provide you with an overview of DCAA Incurred Cost Submissions: Preparing Adequate Incurred Cost Proposals so you can be prepared should you be selected for an audit.
This presentation includes the ICE Model Submission but mainly focuses on the schedules required per FAR 52.216-7(d)(2)(iii) for cots-type contracts. It is highly recommend participants review Enclosure 6 (Incurred Cost Proposals) of the DCAA Manual 7641.90 "Information for Contractors" prior to attending the Webinar.
http://www.dcaa.mil/DCAAM_7641.90.pdf
Presenter:
Kim Grimstead is a Financial Liaison Advisor (FLA) at the Defense Contract
Audit Agency for NAVFAC Atlantic, NAVFAC Mid-Atlantic, NAVFAC EURAFSWA, and
Fleet Logistic Center. Kim has 11 years of experience with DCAA and holds a
Bachelor of Science Degree in two majors, Accounting and Business Finance from
Old Dominion University in Norfolk, Virginia. Kim also holds a Property and
Casualty Insurance license.