North Star Group, LLC announced it has successfully completed the Defense Contract Audit Agency (DCAA) cost accounting system audit, achieved compliance with government cost accounting requirements and has received the DCAA’s important Adequacy determination. The DCAA accounting system Adequacy determination indicates that North Star Group’s cost accounting systems are adequate for accumulating and billing costs under government contracts and is suitable for the award of prospective federal contracts.
Achieving the DCAA Adequacy determination will enable North Star Group to remain compliant with the myriad of U.S. federal government cost accounting standards, while seeking and maintaining important government contracts. DCAA requirements and determinations work to ensure accurate government contract timekeeping and protect agencies and taxpayers against federal contract accounting fraud.
“North Star Group leadership had the vision and determination to put the necessary personnel, resources and processes in place to support compliant cost accounting systems required for DCAA compliance,” said Tina Nace, North Star Group Senior Manager, Business Operations. “The Adequacy determination will open many doors for North Star Group. It provides North Star Group another advantage in successfully competing for government contracts.”
“North Star Group is pleased to have successfully demonstrated our capabilities in complying with DCAA’s important cost accounting standards,” said Robert Olsen, North Star Group Chief Executive Officer. “By obtaining this compliance North Star Group has demonstrated the ability to create consistent and compliant cost accounting practices.”