On December 19, 2008 DCAA issued new guidance for audit of and reporting on internal controls that-- in two short pages of sometimes cryptic text — (a) redefines the agency's approach to the critical concepts of "significant deficiency" and "material weakness" in internal controls and (b) establishes new criteria for auditor reports of deficiencies in large contractor internal control systems, and recommendations as to the adequacy of the contractor… [read post]