SF1408 is a US government-issued self-certification form to document your accounting firm’s adequacy. Specifically, it is a pre-award accounting system survey that covers the potential for a contractor to perform a contract.
While this survey can have several moving parts, it ultimately focuses on your accounting system instead of the strategic pricing involved. The SF1408 seeks to confirm that your system is set up and consistently acts in accordance with criteria for system design, reliability and compliance with accounting principles.
The government can use SF1408 to determine whether your accounting system can manage expenses, estimate costs and maintain record compliance. The following categories are required for review within the two-page survey.
Start the form with your organization’s legal business name, address and person of contact. This section will also ask you to verify that your accounting system aligns with Generally Accepted Accounting Principles (GAAP). A representative from the contracting organization will need to sign and date the form and include their phone number for potential reference.
The priority of the SF1408 is in Section II — the accounting system evaluation. This section is a checklist that asks a series of questions contractors will need to address, including:
For the final section, you will need to provide official documentation to support your claims in Section II. While the exact documentation you need will vary by contract, some general inclusions are:
At BOOST, we exist to support GovCons and help their organizations grow. Our professionals will partner with you to navigate the ever-changing regulations and requirements in the DCAA SF1408. We will help you complete the form and prepare for future audits to win more contracts.
We are experienced and know this industry inside and out. Together, we will provide a tailored pathway toward growth, reducing potential risks and increasing your long-term gain.
The professionals at BOOST are here to support you through every stage of the pre-award audit process. Contact us to speak one-on-one with an accounting expert!
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