CKH CPAs and Advisors has extensive experience working with the Architecture, Engineering and Contractor/Construction community and a deep understanding of your industry and its requirements. We use industry knowledge, business experience, and forward thinking to help solve your industry problems and achieve your financial goals effectively and efficiently.
- Complying with FAR overhead audit requirements
- Planning strategies for costing and multiple-year contracts
- Improving management of cash flow
Securing federal and state contracts is a profitable revenue source for engineering and surveying firms. However, they most commonly require a calculation of your overhead costs in accordance with Federal Acquisition Regulation requirements.
Catrakilis and Company has extensive experience in executing this type of audit. We can help you avoid potential problems that could delay your payments, allowing you to efficiently meet federal reporting requirements for the contracts on which your business may depend. With increasing public scrutiny of government contracting agencies,the FAR audits alone are not only being analyzed, but the quality of the firm performing the audit as well. It pays to have an experienced team devoted to your industry performing your FAR audit.
FAR Audit Services include:
- Review of accounting systems and controls to determine compliance with regulatory and contractual requirements, at both the federal and state levels.
- Review of internal controls to assess proper segregation of direct and indirect expenses, as well as identification of allowable and unallowable expenses.
- Determination of whether the methods used to allocate costs to cost objectives are equitable, and whether all reimbursable costs are being recovered.
- Preparation of a FAR audit report, including overhead rate calculations.
- Preparation of management report, providing thorough conclusions and recommendations for improving internal accounting systems, controls, and methods for allocating costs to cost objectives.