FDOT Audits stand for Florida Department of Transportation Audits and are designated for engineering, technical, and surveying industries. These audits are designed to ensure an efficient overhead rate audit.
The Florida Department of Transportation (FDOT) requires businesses dealing with a contract over $500,000 to hire a third-party CPA to perform an FDOT Overhead Rate Audit. FDOT audits must be executed in accordance with several organizational standards such as:
- Cost Accounting Standards
- American Association of State Highway and Transportation Officials Standards (AASHTO)
- Federal Acquisition Regulation (FAR)
- Generally Accepted Government Audit Standards (GAGAS)
- Florida Administrative Code Chapters 14-75