If this were only a simple question. The most straightforward answer is that it is a good idea for any company to have policies and procedures. If that company is going to do business with the US Government those policies and procedures are going to have to be expanded as each contract may present additional requirements. To help you understand the complex level of requirements we will address the major business systems and other key areas.
Topics: Compliant Accounting Infrastructure, Contracts & Subcontracts Administration, DFARS Business Systems, Human Resources, Contractor Purchasing System Review (CPSR), Government Regulations, Government Property Management, Federal Acquisition Regulation (FAR), Material Management and Accounting System (MMAS), Estimating System Compliance
Defense Federal Acquisition Regulations Supplement (DFARS) Business Systems have come into focus as DCAA and DCMA increase their audits of these business systems. This blog will help to provide the specific requirements of the Material Management Accounting System (MMAS) and the difference in MMAS and other business system reviews.
The DFARS requires contractors to maintain compliant systems for Material Management & Accounting System (MMAS). This video blog will help you understand the requirements of a compliant Material Management & Accounting System.
DCAA has had MMAS (Material Management and Accounting System) audit cognizance or review responsibility for DOD contractors since the advent of the DFARS Business Systems Rule in 2012. DCAA’s scope of audit is to determine if a contractor’s MMAS complies with the ten criteria or standards set forth in DFARS 252.242.7004.