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Accounting System Adequacy – Best Practices for a Successful Audit

October 18 @ 11:00 am - 12:00 pm EDT

Free
Free Forvis CPE

Participants of the free live webinar will be eligible for 1 CPE credit.

Register

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) has 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. Join FORVIS and learn more about the following topics:

  • What is an adequate accounting system?
  • Standard Form 1408 versus the DFARS accounting system criteria
  • A walk-through of each accounting system criteria
  • How to prepare for an audit and be deemed adequate
  • The benefits and consequences of adequacy and inadequacy
  • Review of business system requirements
  • How can I get my system audited?
  • Who may audit my system?
  • Current regulatory environment

Learning Objectives

Upon completion of this program, participants will be able to:

  • Understand the cost accounting requirements for contractor accounting systems of a pre-award and post-award basis

If you have concerns or would like information regarding program cancellation policies or CPE credit, contact us at CPECompliance@forvis.com or 800.472.2745. Due to the large volume of certificates of completion issued, requests to reissue lost or misplaced certificates will be honored up to 60 days following the webinar.​

CPE NASBA LogoFORVIS, 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 its website: www.nasbaregistry.org.

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