For architectural or engineering firms, it’s a fact of doing business. In order to participate in government contracts or receive federal or state funding, indirect or overhead costs must be calculated prior to submitting a bid or proposal.
In addition, these overhead rates must be compliant with the Federal Acquisition Regulation (FAR), a complex set of rules governing the federal government's purchasing process. Many states also require these overhead rates be audited by an independent CPA in accordance with the Uniform Audit and Accounting Guide established by the American Association of State Highway and Transportation Officials’ (AASHTO).
Because this audit can impact your firm’s ability to be awarded a contract, much less make money on it, it’s important to choose your CPA firm wisely.
At DGC, our specialized teams work with your firm to help you:
Engineering firms that work on government projects know that regular audits of overhead rates are frequently a requirement of the contracts. Read more
The speed in which the financial statements were produced and the tight time frame which DGC completed the audit was refreshing. DGC had a comprehensive understanding of our business which minimized my need to respond to questions. The approach was collaborative and flexible.
Our team at DGC is a true business partner—they took the time to understand our business and our organization so they could provide input in a variety of areas. This depth of understanding allowed them to audit our financials more efficiently while also contributing insights into the performance of our business.