OVERHEAD RATE AUDITS
Architects and engineers operating under government contracts are required to conduct an annual audit of their overhead rates and indirect costs in accordance with the Federal Acquisition Regulation Part 31 (FAR).
Gray, Gray & Gray can help you comply with this requirement through our proven overhead audit process. We have conducted hundreds of successful FAR audits for architecture, engineering, design and construction firms of all types and sizes. Our special expertise in architectural firms, engineering firms and construction companies working on government funded projects results in every audit meeting all guidelines. We are well versed in the provisions of FAR Part 31, Generally Accepted Government Audit Standards (GAGAS), Cost Accounting Standards and the guidelines and recommendations in the AASHTO Uniform Audit and Accounting Guide.
In addition to federal overhead audits, we have extensive experience working with various state agencies, which frequently have their own unique audit requirements and deadlines.
Our overhead rate services include:
- Perform audit of overhead rates for submission to federal and state agencies
- Review of historical FAR overhead rates and disallowed expenses
- Review of internal controls and policies to ensure compliance with regulations
- Calculation of reasonable compensation
- Calculation of facilities cost of capital
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