R907-66-7. Consultant Financial Screening and Auditing

  (1) To provide reasonable assurance that the Consultant's presented Indirect Cost Rate(s), hourly billing rates, and direct costs comply with the FAR and 2 CFR Part 200, Subpart E, Cost Principles, the Department will conduct risk assessments, desk reviews, and audits as necessary for consultants seeking to perform design professional, engineering, or engineering-related services for the Department.

  (2) Consultants submit their firm's Financial Screening Application (including all required supporting documents) within 90 days of their most recent fiscal year-end or 60 days prior to the anniversary date of their previous financial screening application approval, whichever occurs first.

  (3) The Department Office of Internal Audit may conduct an audit to determine costs are allowable and in compliance with the requirements of 2 CFR Part 200.