Seminar: Primer on Federal Acquisition Regulation (FAR)
Date and Time
Thursday Oct 31, 2019
8:00 AM - 4:00 PM CDT
Schedule:
8 to 8:30 am - Registration
8:30 to 9:45 am - Fundamentals of Indirect Cost Rates
9:45 to 10 am - Break
10 to 11:30 am - Key Risk Areas for FAR Allowability
11:30 to 12 noon - Internal Controls to Achieve FAR Compliance
12 noon to 12:45 pm - Lunch
12:45 to 1:30 pm - Internal Controls to Achieve FAR Compliance, Cont.
1:30 to 2:45 pm - Compensation Costs
2:45 to 3 pm - Break
3 to 3:45 pm - Home and Field Overhead Rates
3:45 to 4:30 pm - Preparing for a State DOT Review
Location
Marriott Minneapolis West
9960 Wayzata Blvd, Minnetonka, MN, 55426 (952/544-4400)
(Located on the North frontage road of I-394 between Hwy 169 & Hopkins Crossroad, directly across from the ACEC/MN office)
Fees/Admission
Member Cost: $350
Non-member Cost: $350
State Agency Personnel: $225
Description
Join us for this fast-paced course where instructor Dan Purvine will cover key issues you need to know to develop a FAR compliant overhead rate for your A/E firm or to perform a successful overhead rate audit. This one-day course uses a hands-on, solutions-based approach to examine some of the most challenging issues faced by A/E firms and CPA firms in developing or auditing indirect cost rates.
The course will begin with a discussion of the fundamental requirements for A/E firms to develop their overhead rate in accordance with FAR Part 31 and the best practices detailed in the 2016 AASHTO Audit Guide. Topics will include a detailed review of FAR requirements for allowability and reasonableness of costs. Participants will learn how to develop policies and procedures that support FAR compliance, and how to address high risk areas that are commonly questioned in state DOT reviews.
The course includes a discussion of the indirect cost rate audit process, including expected audit testing, documentation, and steps that A/E firms can take to facilitate the audit process and avoid questioned costs. This course will be beneficial to A/E firms and CPA firms who are involved in developing or auditing indirect cost rates or maintaining internal controls and systems that support the development of such rates.
Presenter: Dan Purvine is the President of A/E Clarity and chair of the ACEC Audit Subcommittee and has long been an advocate for the needs of A/E firms in contracting with local, State, and federal agencies. He works closely with FHWA and AASHTO in his volunteer role with ACEC to achieve uniform application of FAR Part 31 and the AASHTO Audit Guide, and to better address the needs of A/E firms nationwide. He has been heavily involved in the development of the AASHTO Audit Guide and the National Compensation Matrix, and works closely with the AASHTO Audit Guide Taskforce to continually improve the Guide as a tool for A/E firms, State DOTs, and CPAs.