Recent Events
In response to prior years allegations of poor performance, the agency has gone through a recent major overhaul in how it operates. Under the new leadership of Patrick Fitzgerald, the agency is changing on a number of levels including changes in its hiring process, revamping employee training and organizing committees dedicated to promoting change in specific areas of weakness. The new training places heavy emphasis on government auditing standards of quality or Generally Accepted Government Auditing Standards (GAGAS). A new agency culture has emerged centered around critical values such as independence, quality of work, documentation, and timeliness. As a result of this new culture, companies that are subject to DCAA audits today should expect a more thorough audit that has increased audit testing and higher levels of evidence requirements. In addition, adherence to independence requirements prevents DCAA auditors from providing consulting and accounting advisory services to contractors.
Read more about this topic: Defense Contract Audit Agency
Famous quotes containing the word events:
“There are no little events in life, those we think of no consequence may be full of fate, and it is at our own risk if we neglect the acquaintances and opportunities that seem to be casually offered, and of small importance.”
—Amelia E. Barr (1831–1919)
“All the events which make the annals of the nations are but the shadows of our private experiences.”
—Henry David Thoreau (1817–1862)