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Virginia Department of Transportation Indirect Cost Rate Submission and Review Process Effective January 1, 2019 1. Policy, Regulation and Guidance a) In order to ensure that consultant costs reimbursed
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What is indirect cost rate audit?
Indirect cost rate audit is a review of the indirect costs incurred by a company or organization to ensure that they are allocated accurately and in compliance with regulations.
Who is required to file indirect cost rate audit?
Non-profit organizations receiving federal funding are usually required to file an indirect cost rate audit.
How to fill out indirect cost rate audit?
Indirect cost rate audits are typically completed by a certified public accountant who reviews the organization's financial records and allocates indirect costs according to the appropriate guidelines.
What is the purpose of indirect cost rate audit?
The purpose of an indirect cost rate audit is to ensure that indirect costs are allocated fairly and accurately in accordance with government regulations.
What information must be reported on indirect cost rate audit?
Indirect cost rate audits typically require detailed financial information, including a breakdown of indirect costs, supporting documentation, and certifications.
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