There were a couple of events this year that will impact Government Contractors in the future relative to the False Claims Act. The False Claims Act (US Code, Title 31, Para 3729) is the regulation that imposes a liability on anyone who "knowingly presents, or causes to be presented, a false or fraudulent claim for payment or approval." The law specifies "any person" that knows so this is open for some interpretation but includes both prime and subcontractors. The liability can be stiff as it involves a financial penalty of $5,000 to $10,000 plus 3 times the damages suffered by the Government due to the false claim plus liability to cover the cost of civil actions by the government. In addition, the government will most probably debar a contractor that is found to be in violation of the False Claims Act. The two events this summer of interest were:1) The Supreme Court issued a decision in the case Read More
DCAA Compliance Blog
Your Source for DCAA & FAR Compliance News and Discussion
ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance. From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.
In our DCAA Blog, we discuss the latest government contracting news from the Federal Government, the DCAA, and DCMA, as well as promotions offered by ReliAscent, and helpful tools and resources for contractors.
We hope you will visit and take part in the discussions on our blog on a regular basis. If you ever have any questions or would like to discuss how our experts can help, do not hesitate to contact us at any time!