Unveiling the Major Responsibilities of FAR Overhead Rate Audit Companies
FAR (Federal Acquisition Regulation) overhead rate audit companies play a pivotal role in ensuring compliance and financial integrity within government contracting. Their responsibilities encompass a wide range of tasks aimed at verifying the accuracy and reasonableness of overhead rates claimed by contractors. 1. Auditing Contractor Overhead Rates: One of the primary responsibilities of FAR overhead rate audit companies is to conduct audits of contractor overhead rates in accordance with government regulations and auditing standards. These audits involve examining the contractor's cost allocation practices, overhead expenses, and supporting documentation to assess their compliance with FAR requirements. 2. Reviewing Cost Allocation Practices : AASHTO overhead rate audit Atlanta reviews contractor cost allocation practices to ensure that overhead expenses are allocated appropriately and in accordance with government guidelines. This involves examining the methods used to allocat...