Does your Organization require a Construction Audit?
Looking to control costs on your next major construction project? If your organization requires a thorough audit to keep costs and budget in check, consider an outsourced solution.
A team of highly experienced internal audit consultants will work with your management team in achieving project deliverables. We provide continuous project tracking of the discovery outcomes with substantiated evidence and guidance where we:
- Evaluate construction contracts to understand performance opportunities, penalties, incentives, rights and obligations.
- Identify opportunities for recovery through matching contractor expenses to terms and deliverables of contacts.
- Review presented expenses for duplication and out-of-scope activity.
- Develop management plans to maintain ongoing cost consumption in line with contractual obligations.
- Establish benchmarking to continuously evaluate construction project performance indicators against the contract in a timely and efficient manner.
You will receive a variety of services and deliverables, including a review of construction procedures such as bidding, awarding of contracts, processing of change orders, project approvals, project closeouts and documentation. We recommend a variety of solutions depending on company type or industry. For example, a retail chain asked us to perform a construction audit and we offered suggestions for audit approaches that were less site specific and more vendor specific, thus increasing the efficiency of the audits.
In many cases, our approach in working with our client’s Internal Audit department is designed to mentor and train several of their internal staff on our leading construction audit methodology. Throughout Control Solutions’ engagements, one of the client’s internal audit team members is assigned to work directly with us to receive hands-on training and knowledge transfer. The value of consulting is increased immensely once the internal employee can independently carry on the future construction audits for the firm.
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