When Financial Expertise Meets DCAA Complexity
This is an uncommon scenario, possibly financial consulting firms or audit firms that contract with DoD. These organizations must make their internal accounting systems DCAA-compliant. The target persona would be a CFO or compliance manager, ensuring billing and cost tracking meet DCAA expectations.
The Hidden Risks of Defense Contracts for Financial Firms
Financial institutions typically follow GAAP and other financial regulations, but a DoD contract introduces a new authority: the Defense Contract Audit Agency (DCAA).
Adapting your corporate processes to meet DCAA requirements, like tracking labor hours at a granular level or segregating project costs, can be complex.
Without proper setup, you risk failed audits, delayed payments, and strained government relationships.
What’s at Stake Without DCAA Compliance?
Defense contracts come with expectations far beyond GAAP. Without proper DCAA alignment, financial firms face serious risks:
- Failed DCAA audits that stall payments
- Loss of credibility with government agencies
- Poor time tracking leads to rejected invoices
- Incorrect indirect cost allocation triggers red flags
- Delays in contract renewals or awards
Most of these risks are avoidable if you set up your accounting right the first time. That’s where we come in.
Our Solution, What You Get
Your DCAA Compliance Partner in Financial Services
We extend our DCAA compliance expertise to financial-sector contractors. Here’s how we help:
- Set up compliant job codes and project accounting systems
- Train your team on timekeeping and invoicing
- Ensure overhead and indirect costs are allocated accurately
- Conduct audit prep and compliance reviews
We ensure your financial reporting aligns with DCAA standards so you pass audits and protect your DoD partnerships.
You’re Already Great at Financials, We Handle the Government Compliance Layer
Most DCAA principles overlap with GAAP, but there are unique audit and reporting nuances. We help you adapt without reinventing your workflows and give your team the training and tools to maintain compliance long-term.