Contract audits : role in helping ensure effective oversight and reducing improper payments : testimony before the Subcommittee on Contracting Oversight, Committee on Homeland Security and Governmental Affairs, U.S. Senate / statement of Jeanette M. Franzel, Gayle L. Fischer.

Format:

Book

Government document

Author/Creator:

United States. Government Accountability Office

Contributor:

Fischer, Gayle L.

United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Ad Hoc Subcommittee on Contracting Oversight

United States. Government Accountability Office

Series:

Testimony ; GAO-11-331 T.

Testimony ; GAO-11-331T

Language:

English

Subjects (All):

United States. Defense Contract Audit Agency.

United States.

United States--Appropriations and expenditures--Auditing.

Public contracts--United States--Auditing.

Public contracts.

Defense contracts--United States--Auditing.

Defense contracts.

Defense contracts--Auditing.

Expenditures, Public.

Public contracts--Auditing.

Physical Description:

1 online resource (30 pages) : illustrations.

Other Title:

Role in helping ensure effective oversight and reducing improper payments

Place of Publication:

[Washington, D.C.] : U.S. Govt. Accountability Office, [2011]

Summary:

Agencies across the government are increasingly reliant on contractors to execute their missions. With hundreds of billions of taxpayer dollars at stake, the government needs strong controls to provide reasonable assurance that these contract funds are not being lost to improper payments (fraud and errors), waste, and mismanagement. Effective contract oversight, which includes effective internal controls throughout the contracting process, is essential to protecting government and taxpayer interests. Standards for Internal Control in the Federal Government provides the overall framework for internal control, which includes the control environment, risk assessment, control activities, information and communication, and monitoring. Contract auditing is a control mechanism intended to provide those responsible for government procurement with financial information and advice relating to contractual matters and the effectiveness, efficiency, and economy of contractors' operations. Today's testimony describes the (1) contracting cycle and related internal controls, (2) Defense Contract Audit Agency (DCAA) and its role in performing contract audits for the Department of Defense (DOD) and other federal agencies, and (3) risks associated with ineffective contract controls and auditing. GAO's testimony is based on prior reports and testimonies, as listed at the end of this statement.

Notes:

Title from PDF title screen (viewed Aug. 29, 2011).

"For release ... February 1, 2011."

Congressional testimony.

Includes bibliographical references.

OCLC:

713660879

Access Restriction:

APPROVED FOR PUBLIC RELEASE.