For Immediate Release
The New DCAA Standardized Guidelines for Auditing is Now Available In an Easy-To-Use Compliance Mapping Tool.
Now Government Contractors Can Determine Auditing Compliance for Business Systems and Internal Controls and Detect Irregularities Before They Become a Violation.
July 19, 2011 | Reston, Virginia – Consult2Comply, a premier regulatory compliance infrastructure management service provider, announced today that it has included the new DCAA Auditing Guidelines for Government Contractors in Compliance Mapper, their automated, enterprise GRC management tool.
The Government Accounting Office (GAO) issued a report in 2008 that cited the Defense Contract Audit Agency (DCAA) for a lack of independence in their auditing process and policies as they applied to government contractors. As a result, the DCAA made a sweeping change to its policies in 2009 about helping contractors stay compliant – it will no longer report that a contractor is ‘deficient in part’ or offer suggestions for improvement in their internal control systems. A system review may only result in a finding or report that is either ‘adequate’ or ‘inadequate’. This pass or fail approach could result in a recommendation that payments be suspended and in some cases, the loss of a contract.
Shortly after this memo was released, another memo followed that set new standards for time to respond to requests for records. Auditors who did not report and fulfill requests within seven days were subject to an issuance of a subpoena. One more memo was issued that requires full reconciliation of interim public vouchers to the contractors accounting records as part of the payment review cycle and another report required auditors to ‘self initiate’ a limited scope audit of internal controls when a deficiency was identified as a part of or in another review. All of this indicates that the DCAA will continue with its on-going efforts to search for contractor fraud and irregularities, putting increased pressure on both large and small contractors.
Steve Crutchley, CEO of Consult2Comply says “I’ve had years of auditing experience and realize how critical it is for government contractors to have the entire picture and a solid audit trail of their internal control environments. That’s why I’ve included the guidelines of the DCAA’s strict audit criteria in our GRC tool.” Mr. Crutchley went on to say, “Auditors are under tremendous pressure because of this new attitude. If a payment is withheld it could devastate a company – and many small companies could not withstand such impact. They need to know where they stand in terms of compliance and this guideline, along with our mapping tools, can help”.
Consult2Comply is a premiere GRC firm that provides compliance infrastructure management services, and compliance software and mapping solutions that support international regulatory standards and best practices for commercial and government enterprises. C2C's web-based, automated compliance platform is designed for improved business performance and audit readiness across the entire organization. Consult2Comply's blended approach of Managed Compliance Services™ -- software plus services as a compliance solution – and Compliance Infrastructure Management™ helps organizations align existing compliance infrastructure with the ever changing regulatory environment. Over 25 years in auditing and consulting in information security and asset management inspired the creation of C2C’s compliance, risk and audit management tools as well as their practical, business-focused approach.