Want to gain a federal contract? Meet DCAA Accounting System Requirement to be in the list
#sf1408 is a pre award accounting system surveys conducted by DCAA to verify the proficiency of different contractors’ accounting systems. This is an important process that is followed by the agency to assess if the accounting systems are good enough to handle the government contracts and if they are in accordance to the setup regulations. The accounting system review is held vital to check for the contractors’ accounting systems and other controls for being DCAA complaint under FAR (Federal Acquisition Regulation). The DCAA auditor looks for the adequacy of everything. Taking into consideration the direct and indirect costs, labour distribution system, and time schedule policies, etc. everything is checked thoroughly. Though every applicable contractor faces this audit, but if in case one is new to this, then this becomes little serious.
In order to grab the government contract without hassle it is important that the contractor’s business should be as per #dcaaaccountingsystemrequirement. The submission of federal contract proposal is important in the first place, and if this is not found enough to maintain a Dcaa compliant accounting system, then either the contractor gets totally declined from being eligible enough to get the contract. Or, he may be asked to make the needed amendments before they reconsider the proposal. There are other ramifications too if any kind of problems occurs at any point. There are cases when contractors’ get the federal contract but fail to be through the accounting system audit, then in that case the DCAA stops further payments till the time the problems get escalated.
DCAA Consulting has been functional to provide support during DCAA audit. For more, connect with them at their website.
