Inside The Proposed DFARS Business Systems Rule

Law360, New York (July 22, 2014, 6:55 PM EDT) -- On July 15, 2014, the U.S. Department of Defense issued a proposed rule to amend the Defense Federal Acquisition Regulation Supplement ("DFARS") in order to improve the efficiency and effectiveness of auditing contractors' accounting systems, estimating systems, and material management and accounting systems ("MMAS"). The proposed rule contains new requirements addressing third-party audits of these three business systems, as well as a requirement for contractors to self-report deficiencies uncovered in these audits or in internal reviews of their business systems....

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