Voucher Audit

The purpose of the Final Voucher Audit is the evaluation of a final voucher to determine the costs and fee (or profit) payable for closing of cost reimbursement, labor hour, T&M and FPI contracts/subcontracts.

The audit is based upon the assumption that the final voucher has been prepared on the following items.

All costs incurred on the (sub)contract to be closed have been audited and cost issues finalized
All costs incurred on the (sub) contract to be closed have not been audited and/or settled and the contracting officer has determined that the contract meets the eligibility criteria in FAR 42.708, Quick-closeout procedures
All costs incurred on the (sub)contract to be closed have not been audited and/or settled: however, the contracting officer has determined to use a FAR 42.708 deviation to close the contract

Government contractors are required to invoice directly from the accounting records. Voucher audits are reconciled to the accounting records and ICE. Voucher audits can occur anytime during the contract time period. During the course of the Standard Voucher Audit, the Defense Contract Audit Agency (DCAA) will be able to evaluate the functionality of the accounting system to ensure its operations in an “adequate” stance. It is recommended that your company review its vouchers mid-year-end before preparing the Incurred Cost Proposals.