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.

Download or read book Oversight Report written by United States. Department of Defense. Office of the Inspector General and published by . This book was released on 1998 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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.

Download or read book Defense Contract Audit Manual written by United States. Defense Contract Audit Agency and published by . This book was released on 2000 with total page 920 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Evaluation Report on the Defense Contract Audit Agency Audits of Major Contractor Labor Costs written by and published by . This book was released on 1997 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Defense Contract Audit Agency Contract Audit Manual Section 5-9O2a. explains that labor costs are generally the most significant costs charged to Government contracts and generally comprise the base, or the largest element in the base, used to allocate indirect costs. Estimates of labor costs for follow- on or similar item Government contracts are frequently based on historical labor costs. Labor differs from other cost items because it is not supported by third-party documentation such as an invoice, purchase order, or receipt. Contractor personnel have full control over the documents or devices of original entry, whether they consist of time cards, electronic media, or some other means. Accordingly, the risks associated with the accurate recording, distribution, and payment of labor are often significant.

Download or read book DCAA Contract Audit Manual written by United States. Defense Contract Audit Agency and published by . This book was released on 1994 with total page 908 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Contract Audit Manual written by United States. Defense Contract Audit Agency and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book History of the Defense Contract Audit Agency written by United States. Defense Contract Audit Agency and published by . This book was released on 1976 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Contract Pricing written by United States. General Accounting Office and published by . This book was released on 1992 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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:

Download or read book Operations Auditing by the Defense Contract Audit Agency written by United States. General Accounting Office and published by . This book was released on 1975 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Defense Contract Pricing written by United States. General Accounting Office and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Defense Contract Audit Agency Report on Use of Consultants by Defense Contractors written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Federal Services, Post Office, and Civil Service and published by . This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Guide for Monitoring Contractors Indirect Cost written by United States. Office of the Assistant Secretary of Defense (Installations and Logistics) and published by . This book was released on 1974 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of Allowable Costs in Overhead Submission of Defense Contractors written by United States. Congress. House. Committee on Armed Services. Subcommittee on Seapower and Strategic and Critical Materials and published by . This book was released on 1985 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Audits of Property and Liability Insurance Companies written by and published by . This book was released on 1999 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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: