Audit Services

Transportation Consultant Audits

Architectural and engineering firms must provide annual overhead audits to the Florida Department of Transportation (FDOT) to bid on contracts larger than $500,000.

Hunter & Associates specializes in performing the required reimbursement rate audits that comply with The American Association of Highway and Transportation Officials (AASHTO) Uniform Audit and Accounting Guide.

The FDOT requires consultants, including service providers such as surveyors, mappers and landscape architects, to submit an audit report prepared by an independent certified public accountant or governmental agency within six months of the end of the contractor's fiscal year. The report must include:

  1. Verification from a CPA or governmental agency that the contractor's accounting system complies with FDOT requirements, specifically that it can support all billings to the department and other clients.
  2. Statement of direct labor costs incurred during the most recently completed fiscal year, as well as listings of allocable indirect costs and other direct costs incurred.
  3. Reimbursement rates for indirect costs (overhead), direct expenses, and Facilities Capital Cost of Money (FCCM) for the most recently completed fiscal year.
  4. Confirmation that the consultant's method of estimating costs for proposals is consistent with its accounting system.
  5. Statement that the audit was performed in accordance with generally accepted governmental auditing standards and the FDOT's Reimbursement Rate Audit Guidelines.

Due to our extensive experience performing rate audits, we have developed a well-honed, efficient process that delivers a precise audit at an affordable cost to you. Specifically, in conducting an audit of schedule of indirect cost, 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 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 Regulations (FARs) 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 to changes to accounting system or internal control.

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