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GAO Reports Deficiencies In DCAA Audit Reports

Client Alert | 1 min read | 09.24.09

After a review that was focused on DCAA offices that issued primarily "clean" opinions and reports, GAO concluded in testimony delivered to the Senate Committee on Homeland Security and Government Affairs on September 23 that there were serious quality problems in 65 of 69 DCAA audit report it reviewed (with minor problems in the other 4) and recommended measures to "strengthen" the role of DCAA in the process. Because of the admittedly biased sample used by GAO, the GAO report does not address or acknowledge quality problems in DCAA findings that are adverse to contractors, although GAO did note that DCAA's decision last year to report contractor systems as either "adequate" or "inadequate," eliminating "inadequate-in-part" findings, could unfairly penalize contractors that do not have material or serious deficiencies and recommended that DCAA seek "outside expertise" to develop audit policy and training on audit standards.

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Client Alert | 3 min read | 09.15.25

Senate Finance Committee Looking to Take White River to the Train Station, Confirms DOJ Investigation into Tribal Tax Credits

On August 19, 2025, the U.S. Senate Committee on Finance (“Senate Finance Committee”) sent Paul Atkins, Chairman, U.S. Securities and Exchange Commission (“SEC”) a letter calling on the SEC to investigate White River Energy Corp (“White River”). In the letter, the Senate Finance Committee confirmed a criminal investigation into White River related to the sale of so-called “tribal tax credits” that according to both Congress and the IRS, do not exist. The letter further states that White River allegedly earned millions of dollars selling these credits and has not been forthcoming with investors regarding the existence of the criminal investigation. According to the Senate Finance Committee, White River has failed to file financial disclosure documents with the SEC since March 15, 2024, missing six consecutive reporting periods. The letter instructs White River to disclose the existence of the DOJ criminal tax investigation, and calls on the SEC to take action if White River fails to do so....

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