Federal Contracting: Additional Management Attention and Action Needed to Close Contracts and Reduce Audit Backlog

Federal Contracting: Additional Management Attention and Action Needed to Close Contracts and Reduce Audit Backlog
ISBN-10
198200777X
ISBN-13
9781982007775
Category
Public contracts
Pages
52
Language
English
Published
2017-12-24
Publisher
Createspace Independent Publishing Platform
Author
United States Government Accountability Office

Description

Closing contracts is a key step in the contracting process. GAO and others have previously reported that large numbers of contracts were not closed within time frames set by federal regulations, which can expose the government to financial risk. DCAA's backlog of audits of contractors' incurred cost proposals contribute to the delays in closing out flexibly-priced contracts. GAO was asked to review the extent of the contract closeout backlog at federal agencies. In addition, a House Armed Services Committee report included a provision for GAO to assess DCAA's incurred cost audit backlog. This report addresses the extent to which (1) selected federal agencies effectively manage contract closeout, and (2) DCAA effectively manages its incurred cost audit backlog. GAO is making seven recommendations, including to each of the five agencies to develop means to track critical elements on contract closeout efforts and to DCAA to assess its efforts to reduce its backlog and establish related performance measures.

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