Government Property Audits Webinar Thursday, September 10th at 2:00pm ET Sign up In recent years the Defense Industry has been seeing an increase in the frequency of both financial and property audits. This audit initiative is not surprising and has been growing in intensity for some time. But in 2020, there is clearly a [...]
By Peter Collins The last two years marked the first full financial statement audits of the Department of Defense (DoD). These were massive audits during 2018 and 2019 that covered more than $2.7 trillion in U.S. military assets. Each year, the audits were carried out by more than 1,200 auditors during 900+ site visits across [...]
The DoD's FY18 Audit is nearly over -- How do you prepare for 2019? The largest audit in Department of Defense history is currently underway. Estimates place the cost of the audit initiative above $900 Million for FY18. The audit portion is estimated at $367 million, while fixing the issues uncovered by the audit could [...]
Most organizations, when first awarded a contract with the Department of Defense, are unprepared for the scope and depth of asset tracking and reporting that is required to be able to ship and invoice their items. This is also true for military contracts that require management of government property. Naively, these contractors [...]
From among the nine other private sector innovators added by Secretary Carter to the Defense Innovation Advisory Board, Jeff Bezos, founder of Amazon, brings to the table a valuable commercial perspective on the benefits of automated technologies that the Department of Defense could benefit greatly from. The culture at Amazon lives and breathes modern Auto [...]
To understand the logic behind the US military asset tracking standards and reporting requirements, it is important to understand the strategy behind the DoD’s need for global asset visibility. The US Military Must Track Inventory All Over the Globe The Pentagon is responsible for tracking, managing and deploying assets on a global scale—hundreds of millions [...]
For anyone involved with DCMA and contracting with the Department of Defense, one of the big concerns is compliance to federal regulations. The government is notorious for having strict guidelines that must be followed in order to continue to earn their business. In order to keep contractors in line with these regulations, the DoD [...]
If you want to do business with the Pentagon, there’s a few things you should know. Winning a U.S. Department of Defense contract can be tricky, as they are very selective about who they do business with, and there is quite a lot of competition. The good news is twofold. First, you can greatly increase [...]
For companies that have done business with the U.S. Department of Defense for at least 16 years, there have been two eras -- the paper era and the paperless era. The paperless era, which can now be called the iRAPT era, has been very beneficial to a multitude of companies that sell provisions to the Pentagon. How [...]
By now most Department of Defense (DoD) contractors are aware that DoD’s Wide Area Workflow (WAWF) invoicing system changed its name to Invoicing, Receipt, Acceptance and Property Transfer (iRAPT) in November 2014. The iRAPT system was created to support DoD’s goal of moving to a paperless acquisition process to track where everything DoD owns is [...]
