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Federal Aquisition Regulation (FAR) Audits
The ability to secure federal contracts can prove lucrative for engineering and construction firms, particularly when these projects are federally funded. Yet, qualifying for those contracts requires a calculation of your overhead costs in accordance with Federal Acquisition Regulation (FAR) requirements – a task that can be time-consuming and complicated. Clairmont, Paciello & Co. offers extensive experience handling FAR audits for companies that perform federally funded work. By helping you avoid potential problems and delays with your audit, we pave the way for you to secure the federal contracts your business may depend on. Our services include:
  • Review of accounting systems and controls to determine compliance with regulatory and contractual requirements, at both the federal and state levels

  • Review of internal controls to assess proper segregation of direct and indirect expenses, as well as allowable and unallowable expenses

  • Determination of whether the methods used to allocate costs to cost objectives are equitable, and whether all reimbursable costs are being recovered

  • Preparation of comprehensive audit report, including indirect rate certifications

  • Preparation of management report, providing detailed conclusions and recommendations for improving internal accounting systems, controls, and methods for allocating costs to cost objectives
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Securities and advisory services offered through Royal Alliance Associates, Inc. member FINRA/SIPC. Advisory, tax, and Audit services offered through CPC Financial Planning, Inc., a registered investment advisor, not affiliated with Royal Alliance Associates, Inc.


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