FAR Audit Preparation
Firms dealing in government contracts face the challenges and complexities of complying with all aspects of the Federal Acquisition Regulations (FAR). Having the in-house knowledge, skills, and time to devote specifically to FAR Audit requirements and compliance is often not feasible or cost-effective. JAT professionals have the expertise, integrity, and objectivity to take you from preliminary preparation to obtaining an acceptable FAR Audit.
Demonstrating how efficiently and effectively a contractor spends government funds and complies with government subcontracting policies is no small task. With a thorough knowledge of Federal Acquisition Regulations, we can identify and clarify potentially volatile audit situations. Our FAR Audit services not only ensure your FAR compliance, but can also strengthen your internal controls.
JAT reviews and assesses:
- Procurement and subcontracting procedures
- Financial and accounting records supporting proposed, incurred, and estimated costs
- Financial and accounting aspects of cost control systems
- Cost estimating and earned value management systems
- Compliancy of overhead rate calculations
- Consultant agreements, billings, and related records
- Subconsultant compliance and review
JAT helps ensure:
- Account organization that properly represents the structure of your business and provides clear definition of significant operations
- Compliance with public laws, regulations, and contract requirements
- Sound policies and procedures in subcontracting