Arlington, VA, September 30th, 2019 — The Defense Contracting Audit Agency (DCAA) has reviewed Indev’s accounting system design and found it compliant with the criteria contained in FAR 53.209-1(f), Standard Form 1408 (SF 1408). The DCAA opinion shows that Indev follows Generally Accepted Accounting Principles (GAAP) and is able to properly recognize, capture, and record costs based on standards set by the FAR and the Cost Accounting Standards Board (CASB). This new status is a significant milestone in Indev’s long term corporate development strategy, as it better positions the company to bid on larger contracts, DoD contracts, and other contract types often referred to as “Cost-Plus” contracts.
“The DCAA recommendation is an outstanding milestone for our company,” said Brett Albro, Co-Founder and Partner of Indev. “Having a Government-approved accounting system is a critical achievement in our growth. The DCAA findings represent years of hard work and sets the stage for additional Government contract types in the future. This DCAA recommendation opens the door to additional prime contracting options that will help Indev bring more value and cost-discipline to Government projects and programs.”