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FREE: Materiality in Incurred Cost Audits Webinar

September 18 @ 2:00 pm - 3:30 pm

Free

At the request of Congress in the FY18 National Defense Authorization Act, the Section 809 Panel developed numeric materiality guidelines applicable to audits and oversight of contractor costs.  The Defense Contract Audit Agency (DCAA) recently rolled out new audit guidance to adopt and implement them (a year sooner than Congress mandated).  Your presenters, both of whom worked closely with the Section 809 Panel to develop the materiality guidelines, will share their perspectives on what they mean to the government contracting community.  Key takeaways from this webinar will include a better understanding of:

  • Why clearer materiality guidance was needed
  • The concept of materiality, including qualitative (nature) vs. quantitative (amount) considerations
  • How materiality is applied throughout the audit (planning, performance, reporting)
  • How materiality is applied to direct vs. indirect costs
  • Material vs. immaterial non-compliances, their effect on audit opinions, and how they will be communicated to contracting officers
  • How the new guidance may affect DCAA audit teams, contractors, and contracting officers

Instructors: Brent Calhoon, Bakertilly
James Freeman, DCAA

Details

Date:
September 18
Time:
2:00 pm - 3:30 pm
Cost:
Free
Event Categories:
,

Venue

Online

Other

Delivery Method
Webinar