In speaking with Ken Bricker, former DCAA auditor and Senior Partner at Goodman and Co. We asked Ken:
What do DCAA auditors look for in a commercially available accounting package?
Auditors want to ensure that the accounting solution generates the reports they need to adequately show contract status and compliance. The reports need to show job costing and easily compare proposed rates with actual rates. They want to review individual expenses for cost allowability. Among other things, they want to evaluate contractors' policies, processes, procedures, controls, and performance. At the end of the day, DCAA identifies and evaluates activities which either contribute to or have an impact on proposed or incurred costs of government contracts.
To assist government contractrors with DCAA Compliance, Microsoft has provided a number of reports that make the audit process straightforward and seemless. For information on Dynamics SL click here for information on Microsoft NAV for Government Contractors.