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Nicole Owren-Wiest Quoted in Law360 About DOD Proposal on Contractor Audits

Law360
July 16, 2014

Nicole J. Owren-Wiest, a partner in Wiley Rein’s Government Contracts Practice, was quoted yesterday in a Law360 article about a U.S. Department of Defense (DOD) proposed rule that would allow it to approve covered contractors’ accounting, estimating and material management systems based on self-evaluations by contractors and audits by third-party certified public accountants.  Allowing contractors to choose qualified third-party accountants to double-check their own reviews could help ease contractors’ concerns about the slow pace and potential for error in Defense Contract Audit Agency (DCAA) audits, Ms. Owren-Wiest told Law360.

“As a general proposition, I think it would be welcomed by contractors,” she said.  “The backlog in DCAA reviews of accounting systems and estimating systems is really holding things up for some companies.”  But, she cautioned that implementing the rule in a way that benefits the DOD and its contractors could prove challenging.  Written comments on the proposed rule are due September 15.  A public meeting has also been scheduled for August 18 in Alexandria, Virginia.