THE VALUE OF CONSTRUCTION AUDITING: KNOWING YOUR OBJECTIVE, SCOPE, FOCUS, TIMING, VALUE
There are many moving parts of an audit and knowing the when, what, why, and where are critical. How your start an audit will help you land well at the end of an audit. Working with your contractor and forging a similar focus, will pave a smooth road for you both to travel on. Learning from case studies, examples and hands-on experience, learn what to do and more important, what not to do. How to deliver added value to your construction project.
|The Role of Auditors in Construction Contract Negotiations|
To increase knowledge regarding the potential role of auditors during construction contract negotiations, including benefits such as reducing audit risks and achieving up-front cost saving through review of contract terms and proposed costs prior to agreement execution.
A Comprehensive Approach to Construction Project Audit
This presentation will discuss the comprehensive approach in conducting audit on construction projects from the owner’s perspective, including the scope, timing and expertise required to maximize the value of the audit, and to enhance the project’s probability of success.
Red flags and real life case studies in the identification of fraud in construction projects across Latin America.
- Red flags are important tools that the fraud examiners have to detect and sometimes prevent fraud from occurring. While a number of examples are universal and can be found all over the world without discrimination, some are very country, culture and language specific.
- The presentation intends to explore real life case studies about the identification of fraud in construction projects across Latin America. The idea is to share with the audience unique perspectives that might help them understand an alternative viewpoint on such issues and produce a discussion as to what would have been understood if such red flags had been identified under their own contexts.
How to Research Project Specifications, Submittals, and RFIs to Identify Potential Cost Recovery Audit Findings
Specific how to audit techniques and examples of cost recovery audit finding results will be presented. Specifics examples of how to use available cloud based programs commonly used by Owners andcontractors will show auditors and project managers how to use these tools to optimize the efficiency of this research.
Rich Townsend will present approximately 50% of this session and he will be joined by one of his Senior Construction Auditors (Clay Addison) who will present the other 50%of the session. Ample time will be included for participants to ask questions and otherwise participate in the session.
Fraud Risk Assessment – Let’s talk about the F-word. This presentation will address the need for an annual fraud risk assessment that feeds into the annual audit plan, and will define key components and best practices.