Audit Assurance

FDOT Audits

FDOT Overhead Audit Solutions

Clearing a path for FDOT consultants by smoothing the overhead rate audit process.

If you provide services such as engineering, geotechnical and surveying to the Florida Department of Transportation (FDOT), your indirect cost (overhead) rates must be certified before submitting a contract bid. For contracts over $500,000, FDOT requires an independent CPA to audit your overhead rates on an annual basis, due six months after year-end.

PDR has extensive experience in working with FDOT consultants and contractors, performing efficient overhead rate audits in accordance with:

  • Generally Accepted Government Auditing Standards (the Yellow Book)
  • Florida Administrative Code Chapter 14-75
  • Applicable requirements of Subparts 9900 and 31 of the Federal Acquisition Regulations (FAR)
  • American Association of State Highway and Transportation Officials’ Uniform Audit and Accounting Guide
  • Other criteria required by the FDOT

For those new firms or firms bidding on contracts below $500,000 (minor projects), FDOT requires self-certification of your overhead rates and your cost accounting system. For owners who are inexperienced in this environment, PDR has a plan to get you ready to start bidding on contracts. We can help you calculate the required rates and we can also consult with you to set up a cost accounting system and provide the appropriate documentation that proves your accounting system is adequate to meet FDOT requirements.

Although the compliance requirements and overhead rate calculations can be complex, the advantages of working with a CPA firm that knows the process can increase profitability and reduce time and stress, allowing you to focus on your business.

PDR CPAs + Advisors FDOT Overhead Audit Solutions:

  • Audits of overhead rates
  • Assistance with self-certification of overhead rates and accounting systems
  • Calculation of facilities cost of capital
  • Design effective cost accounting systems
  • Review of historical overhead rates and disallowed expenses

Interested in our services?

At PDR CPAs, we leverage our 40+ years of industry expertise to help you keep your finances strong and your business moving forward.

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