In an Age of Increased Scrutiny, What Makes an Accounting System “Adequate?"

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Adequate accounting systems are critical to the success of most government contractors. Without one, you cannot be awarded a federal cost reimbursement contract. Now that the Defense Contract Audit Agency (DCAA) is all but caught up on incurred cost audits, many contractors are experiencing increased scrutiny of their business systems – especially their accounting system. On top of that, Congress has continued to demonstrate a preference to allow third-party auditors to perform some of these reviews. Regardless of who does the audit, the criteria and the expectations remain unchanged.

Please join your hosts, Mike Mardesich and Brad Tress of DHG's Government Contract Advisory Team as they discuss the following:

  • What is an adequate accounting system?
  • Standard Form 1408 and the DFARS criteria
  • How to prepare for audit and be deemed adequate
  • Review of Business System Requirements
  • The benefits and consequences of adequacy and inadequacy
  • How can I get my system audited?
  • Who may audit my system?
  • Current Regulatory Environment
Presenters:
Webinar Series

This webinar is part of the Fundamentals of Government Contracting Webinar Series. The focus of this series is to cover the foundational basic requirements tied to this often confusing and always challenging Government Contracting marketplace.

CPE Information

CPE Credit: One hour of CPE (pending approval)

Delivery Format: Group Internet Based (each attendee must be logged in and answer the poll questions in order to receive CPE credit).

Prerequisites/Advanced Preparation: None

Course Level: Basic

Participants: Individuals in the government contracting sector

Program Content: High level discussion on what makes an adequate accounting system.

Policies

This event is complimentary. Due to this program being offered free of charge, there will be no refunds issued. If you have any questions regarding administrative policies such as registration or cancellation, please contact webinars@dhg.com.

Questions

Please direct any CPE related questions to DHGU@dhg.com.

Dixon Hughes Goodman LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through the web site: www.nasbaregistry.org/.