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When architectural and engineering (A/E) firms propose or work on government contracts, they are often asked to provide overhead rates prepared in accordance with the Federal Acquisition Regulation (FAR). Many government agencies also request that the overhead rates be audited by a CPA. States and local governments are increasingly requesting these types of audits, better known as FAR audits.
FAR audits are unique engagements tailored for A/E firms and are not the same as financial statement audits. The purpose of this article is to inform A/E firms about these audits, and the things they should consider if they are thinking about obtaining a FAR audit.
McKenzie Audit Group, Inc. is a license Certified Public Accounting Firm that specialize in FAR Overhead Rate Audit. Our Audits pass DOT review process every time.
Are you paying too much for your FAR Overhead? Is your CPA getting your report to DOT in a timely manner?
We have a team just dedicated to performing overhead audits, because we are highly efficient and have a lower overhead, we can save you on your next FAR Audit.
McKenzie Audit Group, Inc.