FDOT / AASHTO / FAR Overhead Rate Audits

Specialized overhead rate audit services for firms that perform work for the Florida Department of Transportation and other government agencies.

Services Common areas reviewed

Support your rates. Defend your costs.

Chinye & Company, CPA, PA provides specialized overhead rate audit services for architecture, engineering, surveying, transportation, and other professional service firms.

Government contracts often require firms to support their indirect cost rates through properly prepared schedules, adequate accounting records, and compliance with applicable cost principles.

A properly prepared overhead rate audit helps management support its billing rates, respond to agency requirements, and reduce the risk of questioned or disallowed costs.

An engineer and client reviewing a 3D building model on a laptop at a conference table

Audited rates, allowable costs

Services for A/E and professional service firms

Six ways we help firms meet government contracting and reimbursement requirements.

Overhead Rate Audit

Audit of the schedule of direct labor, fringe benefits, general overhead, and related indirect cost components.

FAR Part 31 Compliance Review

Evaluation of costs for allowability, reasonableness, and allocability under applicable federal cost principles.

AASHTO Guideline Considerations

Review of cost classifications, labor charging practices, executive compensation, direct versus indirect treatment, and unallowable cost segregation.

FDOT Reimbursement Rate Support

Preparation and audit support for firms seeking to meet FDOT reimbursement rate and professional services requirements.

Job Cost Accounting System Review

Assessment of whether the firm's accounting system adequately captures direct labor, indirect labor, project costs, unallowable costs, and supporting documentation.

Internal Control Questionnaire Assistance

Assistance with understanding and responding to internal control and accounting system questions commonly required in transportation-related professional service engagements.

Common areas reviewed

Cost classifications and controls we routinely examine in overhead rate audit engagements.

Direct labor classification and labor distribution
Indirect labor and fringe benefits
Executive compensation and bonus treatment
Rent, occupancy, equipment, and office costs
Automobile, travel, meals, and promotional expenses
Marketing and business development costs
Legal, professional, consulting, and outside services costs
Subconsultant and subcontractor cost treatment
Related-party transactions
Unallowable cost identification and segregation
Job cost accounting and project coding
Timesheet controls and supporting documentation

Need an audited overhead rate?

Tell us about your agency requirements and reporting deadlines, and we will scope the engagement with you directly.

Schedule an Audit Consultation All audit services