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Defense Management: Widespread DCAA Audit Problems Leave Billions of Taxpayer Dollars Vulnerable to Fraud, Waste, Abuse, and Mismanagement: Testimony Before the Panel on Defense Acquisition Reform, Committee on Armed Services, U.S. House of Representative
Defense Management: Widespread DCAA Audit Problems

 
Our Price: $15.00
By Gregory D. Kutz (au)
Year: 2009
Pages: 17
Binding Paperback

Product Code: 143792428X

Description
 
Statement of Gregory D. Kutz, Managing Director, Forensic Audits and Special Investigations, GAO. In FY 2008, the Dept. of Defense (DOD) obligated over $380 billion to federal contractors, more than doubling the amount it obligated in FY 2002. With hundreds of billions of taxpayer dollars at stake, the government needs strong controls to provide reasonable assurance that contract funds are not being lost to fraud, waste, abuse, and mismanagement. The Defense Contract Audit Agency (DCAA) is charged with a critical role in contractor oversight by providing auditing, accounting, and financial advisory services in connection with DOD and other federal agency contracts and subcontracts. However, last year GAO found numerous problems with DCAA audit quality at three locations in California, including the failure to meet professional auditing standards. In a follow-up audit issued this September, GAO found that these problems existed agencywide. This testimony describes widespread audit quality problems at DCAA and provides information about continuing contract management challenges at DOD, which underscore the importance of DCAA audits that meet professional standards. It also discusses some of the corrective actions taken by DCAA and DOD and key GAO recommendations to improve DCAA audit quality.

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