(Editor’s Note. The Defense Contract Audit Agency Manual (DCAM) is a two volume guide that is revised twice a year. Though it is not authoritative, the interpretations of cost and pricing regulations offered to its auditors provide useful insights into how DCAA, other audit agencies and prime contractors’ reviewing subcontractors will interpret the rules we all have to live with. We frequently report on significant guidance issued during the year in the GCA REPORT and the twice yearly updates incorporate both these changes as well as other changes DCAA chooses to make. In this article, we will report on the most significant changes made to both the January 2003 (our copy came late) and the July 2003 editions.)

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