Overhead Rate AuditsHunter & Associates has developed a well-honed, efficient process that delivers a precise overhead audit for transportation consultants. Specifically, in conducting an audit of the Schedule of Direct Labor, Fringe Benefits and General Overhead, Hunter & Associates:
- Confirms that our audit was an independent assessment conducted in accordance with generally accepted auditing standards and the financial audit standards contained in the Generally Accepted Government Auditing Standards ("Yellow Book").
- Verifies that the audit of the Schedule of Indirect Cost required us to assess the financial compliance requirements and accounting practices prescribed by Part 31 of the Federal Acquisition Regulation (FAR) and certain other federal and state regulations.
- Tests and documents your company's internal control over financial reporting - per the American Association of State Highway and Transportation Official (AASHTO) Uniform Audit Guide.
- Reviews audit findings with you and recommends any needed changes in rates or policies.
- Outlines any necessary changes to accounting system or internal controls.
- Recommends changes that could further strengthen your firm.