Contracts and Grants – Cotton and Company

Since the firm’s founding, Cotton & Company has performed thousands of cost incurred audits, performance audits, preaward audits, indirect cost rate audits, financial-related audits, and agreed-upon procedures reviews for more than two dozen federal inspectors general, as well as numerous other federal and state agencies and programs. These audits have been conducted in accordance with Generally Accepted Auditing Standards as well as many being conducted in accordance with the DCAA Contract Audit Manual.

Financial and Compliance Audits of Government Contracts and Grants

Cotton & Company evaluates the adequacy of internal control structures to safeguard government funds and ensure compliance with contract terms and conditions and also review whether the auditee complied with contract terms and conditions. For these types of audits, we determine if costs incurred are reasonable, allocable, eligible, and allowable in accordance with laws, regulations, and contract terms and conditions. We have identified millions of dollars of questioned costs for government recovery.

Indirect Cost Rates

Our services include conducting audits of contractor/grantee indirect cost rates for federal or state agencies. We also assist organizations in preparing and submitting indirect cost rates submissions.