The Australian Dollar (AUD) is the currency unit used in the Commonwealth of Australia. The Australian Dollar symbol is $. Commonwealth of Australia states include Cocos Islands, Norfolk Island, Pacific Island states, Christmas Island, and Australia.
Overview: The Defense Contract Audit Agency (DCAA) independently investigates Department of Defense (DoD) contracts to determine the fairness, accuracy and completeness of financial records and reports, as well as the effectiveness of any transactions the department has made.
Additionally, the Defense Contract Audit Agency (DCAA) has issued recent internal guidance in 2016 that contractors should be knowledgeable of as well. Further discussion of 10 recent and noteworthy government contract compliance requirements and guidance items are summarized below.