Fort Belvoir, Va. –
DCAA auditors from the Nashville Branch Office recently achieved significant savings during a $125 million incurred cost audit, reducing the audit time by 264 hours. The team’s work saved more than $45,000 on the reimbursable audit because of their strategic planning and proactive use of innovative tools and technology. A key component to the audit’s success was using customized data analytics tools specifically designed for the audit. These tools automatically flagged potential risks and anomalies in real time, allowing the team to quickly address high-risk areas before they become problematic.
Additionally, the team leveraged previous audit work and guidance to help identify future audit needs. This proactive approach allowed the team to save time and money without compromising the audit quality. This work and extra dedication to implementing a calculated audit approach exemplifies how DCAA continues to improve efficiencies and works towards higher savings for the DoD.