Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
High Risk Series: Defense Contract Management: HR-95-3

High Risk Series: Defense Contract Management: HR-95-3

U. S. Government Accountability Office (G

Paperback

General Political Science

ISBN10: 1289051615
ISBN13: 9781289051617
Publisher: Bibliogov
Published: Jun 27 2013
Pages: 38
Weight: 0.19
Height: 0.08 Width: 7.44 Depth: 9.69
Language: English
GAO reviewed the Department of Defense's (DOD) contract management, focusing on the significant risks it faces as a result of defective pricing and weak controls over unallowable overhead costs and contractor payments.

GAO found that: (1) although defective pricing has been reduced by 86 percent to 125.5 million in fiscal year 1993, significant financial risks remain; (2) DOD contractors' performance in correcting significant cost-estimating system deficiencies has been mixed; (3) recently DOD contractors identified and returned $75 million in apparent overpayments to the government; (4) DOD financial control weaknesses in identifying and excluding unallowable contractor overhead costs result in large, frequent, and numerous erroneous and fraudulent payments to defense contractors; (5) DOD needs to correct its long-standing contractor cost-estimating problems and address very serious weaknesses in its financial controls so that it can reduce contractor overpayments and fraudulent activities; (6) DOD contractors need to improve their procedures for identifying and excluding unallowable costs from overhead submissions; and (7) acquisition reform and streamlining legislation are positive steps toward strengthening DOD acquisition and contracting processes and properly protecting the government's and taxpayers' interests.

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