General

DCAA Best Practices to Small Businesses

Problem: The DCAA (Defense Contracts Audit Agency) conducts audits of defense and security-related contractors, in order to insure that public dollars are being well spent. These audits, while necessary, create a tremendous bookkeeping burden on small businesses, as they seek to comply with all the financial data rules imposed by DCAA. However, DCAA is not allowed to suggest easier bookkeeping methods (such as available software tools) to the small businesses it reviews, even if DCAA is aware that those tools would solve a problem they have identified within the business.

 

Solution: Allow DCAA to recommend best practices to small businesses, to reduce burden and increase compliance.

 

This would increase compliance, reduce time associated with both audit and compliance, lower the number of negative audit findings, and would allow entrepreneurs to spend more time focused on innovating.

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Idea No. 15