DCAA Audit Sees Into Several Aspects Of The Accounting System
It requires professional expertise to deal with the high standards of the DCAA Audit for procuring the government contract. There are fine stipulations regarding the accounts submission of the Cost Reimbursable Contracts that have to abide by the FAR 16.3 Subpart. There are overwhelming details and also intricate systems that have to be incorporated within the accounts system.
Apart from the direct and indirect costs, there is also the requirement of an adequate timekeeping system — manual or electronic. The labor costs distribution and their job allotted will also form an important part of the accounts system. The best way to deal with all such requisites and avoid penalty is by hiring professional services of the experts that are veterans in the field.
