Comprehensive Advisory/Audit Services
This consulting service covers more than just your construction contract and related payments. Our approach for this service is designed to examine all significant financial aspects of the many contractual agreements involved in a large development. This approach uses techniques from both our advisory and audit services to bring you a totally comprehensive contract control package.
This service can be performed at any stage of the project. It can be done when the construction starts, anytime during construction, or sometime near the completion of the construction process. The major difference in the scope of this service compared to our other audit services is the fact that we take into consideration the inter-relationships of all of your contracts with a view toward identifying cost recovery opportunities and recommending procedural control enhancements where appropriate.
Objectives
- Identify actual and potential overpayments, overcharges, failures to recoup reimbursable expenses, etc. as a result of oversights due to the complex inter-relationships of contracts, and the massive amounts of paperwork involved in the various transactions. Identify methods and procedures enhancements which will aid in controlling expenditures and receipts related to the various contractual agreements.
Approach
- Review all significant aspects of the project including the procedures involved in handling payables and receivables.
- Review significant transactions related to the various contract payables and receivables to identify potential cost recovery situations and to identify potential procedural enhancements.
- Prepare a comprehensive management report describing all of the actual and potential cost exceptions identified, as well as detailing various control recommendations.
