DCAA Compliance – DCAA Preaward Survey
In August 2014, DCAA conducted a preaward survey of our accounting system. We are proud to announce that DCAA approved our accounting system design and operation and confirmed it provides the necessary information for contracts in accordance with Federal Acquisition Regulation (FAR), Cost Accounting Standards (CAS) and Generally Accepted Accounting Principles (GAAP).
Defense Contract Audit Agency (DCAA) performs all necessary contract audits for the Department of Defense (DoD) and provides accounting and financial advisory services regarding contracts and subcontracts to all DoD components responsible for procurement and contract administration. The DCAA preaward survey of accounting systems assesses whether the requirements for an adequate accounting system have been met and is an important step for contractors with cost reimbursement contracts or for contractors that are receiving progress payments based on cost.