Question

why is it important that the GAO receive the cooperation of contractors in attempting to make its government audits?

Answer 1

A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.

GAO’s work identified weaknesses in contract management, significant problems with federal agencies ’control over contract payments, and internal control deficits during the contracting process, including contract auditing. GAO has also found audit quality issues in DCAA offices across the country, including a concession on auditor independence, inadequate audit testing, and insufficient planning and oversight. Most contract audit activities are focused on reimbursable cost contracts and others at fixed prices due to the elevated hazards to the national government.

In an audit, System control appraisal audits support fair and reasonable price negotiation. In Audit, system audits also support decisions to authorize contractors to submit invoices. The purpose of cost audits is to examine contractor cost representations and determine if costs are admissible, can be divided into government contracts, and are compatible with the contract and applicable government procurement legislation.

GAO investigates the use of public funds; evaluate federal programs and policies; and provide analysis, recommendations, and other assistance to assist Congress in making informed oversight, policy, and funding decisions. Gao's commitment to good governance is reflected in the core values of accountability, morality and credibility.