Before award of many contracts and during contract performance government auditors will review contractors’ cost accounting practices.  A negative opinion can definitely affect your selection chances while a positive opinion can be a strong discriminator in winning prime contracts and subcontracts.  Our staff of former DCAA auditors put on “audit hats” to conduct a review of your practices, evaluate strengths and weaknesses and recommend and help implement necessary fixes to ensure you receive a positive opinion when the real audit occurs.  Though areas of review vary by contractor a “mock audit” typically includes: 

• Distinguishing between direct and indirect costs
• Screening unallowable costs
• Allocating indirect costs
• Timekeeping and labor charging
• Expense reporting
• Treatment of material Costs
• Treatment of uncompensated overtime
• Adequacy of internal controls
• Tracing selected transaction through the accounting system

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