With government stimulus money prompting more federal contract jobs, having an up-to-date overhead rate is even more important for architecture and engineering firms. Most government bids now require companies to submit a recently audited overhead rate.
HLB Tautges Redpath provides overhead schedule audit services for architecture and engineering firms. The audit helps ensure companies are using the same cost principles and procedures to determine overhead rates. Company overhead rates, which include indirect labor, fringe benefits and general overhead, are audited using accounting practices prescribed in Part 31 of the Federal Acquisition Regulation (FAR).
Having an audited overhead rate gives companies updated information at their fingertips to efficiently submit government bids and to better evaluate pricing and profitability for each job.
HLB Tautges Redpath's overhead schedule audit process has been reviewed and approved by the Minnesota Department of Transportation. As a result, our clients have received cognizant audit letters from the state of Minnesota.