The PCI Network – Biggest Challenge and Important Consideration During an Audit

This episode of The PCI Network focuses on important considerations and challenges during an audit with Bill Walter, Director and Faculty at PCI. Bill Walter is a Partner with Dixon Hughes Goodman, LLP.  He holds a BS degree in Accounting from Penn State University and has more than 25 years of experience in cost accounting and financial management systems.  He has an extensive background in the application and interpretation of rules, regulations, and standards applicable to Government contractors, including the Federal Acquisition Regulation, individual agency supplements to the FAR, the Truth in Negotiations Act and the Cost Accounting Standards.  He began his career as an auditor for the Defense Contract Audit Agency (DCAA), where he was responsible for implementing micro-computers and training his fellow auditors and … Continue reading

DoD IG Critical of DCMA Proposal Audits

By Darrell Oyer, Darrell J. Oyer & Co.: In 2010 DOD issued guidance to contracting officers raising the contract value for requesting a proposal audit from $650,000 to $10 million for fixed-price contracts and from $10 million to $100 million for cost-type proposals. DOD transferred low-dollar proposal audits from the Defense Contract Audit Agency (DCAA) to the Defense Contract Management Agency (DCMA).  The change came in the wake of congressional criticism over the quality of DCAA’s audits. DCAA said this decision would allow it to redirect 132,133 audit hours to higher-dollar proposals [Editorial Note:  Sure]. A DOD Inspector General (IG) report has now concluded that this action could cost taxpayers as much as $249.1 million per year. According to the IG, DCMA’s Pricing and Negotiation … Continue reading