Making the decision to conduct business with Federal and local governments can be profitable, and provide significant networking and growth opportunities. However, working with the government also means that you must comply with laws and regulations that are unique to doing business with that governmental unit.
The Federal Acquisition Regulations (FAR) is a substantial and complex set of rules governing the Federal government's purchasing process. Its purpose is to ensure purchasing procedures are standard and consistent, and are conducted in a fair and impartial manner.
In addition to the Federal Acquisition Regulations (FAR), The American Association of State Highway and Transportation Officials (AASHTO) has published their Uniform Audit & Accounting Guide (September 2009 Edition). Most State governments have adopted this audit guide and expect its provisions to be included in the computation of your overhead rate in accordance with the FARs.
Our firm provides compilation, review and audit services for engineering firms conducting business with government entities as well as consulting engagements on the applicability of the FARs provisions.
Your engineering firm would benefit from our services if your contracts require a computation of your overhead rate under the FARs for reimbursement purposes.