While government contractors and the rest of the world are working their way through a more challenging and remote work environment, so are government auditors. DCAA and DCMA continue to focus on evaluating contractor business systems and internal controls. Whether your company has an upcoming audit or could simply use a health check on its system of controls, this course will help you prepare to evaluate your system’s audit readiness and provide strategies for enhancement. Your instructors will provide insight into best practices and recommendations for developing the documentation and tools needed to demonstrate your company’s compliance with contract requirements and audit expectations. DCAA has increased its focus on timely performance of business systems evaluations, so prepare now for success tomorrow. This interactive course will teach participants how to assess and remediate their company’s business systems and demonstrate compliance to Government auditors. It will address the history of contractor business systems, how to assess a business system for compliance with Government requirements, how to develop new compliant policies and procedures, and how to monitor and maintain business system internal controls. Participants will practice documenting business system processes, revising policies and procedures, and identifying key process internal controls. The course will instruct participants on how to walk Government auditors through business processes, documentation, and internal controls in order to demonstrate compliance with Government requirements after their business systems have been revised.
Who should Attend
This course is designed for those basic knowledge of business systems, audits and compliance programs but needs to incorporate the practical with the knowledge base. Those in the following positions are encouraged to attend including but not limited to: • Compliance Officers • Accounting/Finance Administrators, Managers, Directors, VPs • Contract Administrators, Directors, Managers, VPs
Learning Objectives: After completing this course, you will be able to:
DAY 1 I. Introductions II. Business Systems Background III. Business System Requirement Overview a. Requirement Background b. Common System Requirements c. Requirements Comparison d. Significant Deficiency Findings IV. Business System Audit Expectations a. Compliance Risks b. Documentation Requirements c. Information Requests V. Assessing the Adequacy of Business Systems a. System Evaluation Overview b. Determining System Requirements I. Assessing the Adequacy of Business Systems (cont.) a. Internal Control Overview b. Identify Internal Control Gaps c. Policy & Procedure Reviews d. System Compliance Gaps II. Remediation Process a. Develop Internal Controls b. Update Policies & Procedures c. Develop Compliance Tools III. Group Exercise DAY 2 I. Building Compliance Documentation a. Internal Control Requirements Matrix b. Policies & Procedures c. System Process Flows II. Group Exercise III. Monitoring & Maintenance a. Internal Control Testing b. Training c. Policy & Procedure Monitoring d. Compliance Reporting IV. System Disapproval Administrative Procedures V. Payment Withholds Overview VI. Wrap Up
If you need additional assistance, please get in touch with the Hyatt at 877.803.7534.