Government be warned: Contractors do not have to keep cost reimbursement records forever

Summary: The Defense Contract Audit Agency or DCAA, found something out the hard way. If it takes to long to audit cost reimbursement support documents held by contractors, tough. The government is still responsible for the costs. A recent Armed Services Contract Board of Appeals delivered that outcome in a case that Federal Drive host Tom Temin discussed with Zach Prince, a partner at Smith Pachter McWhorter. Learn more about your ad choices. Visit megaphone.fm/adchoices