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Construction Activity Audit
Every construction project is a complex, sometimes confusing, process governed by complicated contracts reflecting multiple relationships in several tiers. Although buildings have been built for thousands of years now, no two of them are alike. Construction processes carry an inherent variety of risks at each stage of the project. It is impossible to eliminate all of them, but your goal should be to manage and control construction risks efficiently.
For a list of risks associated with construction activity visit Construction Contract Risks.
The Construction Activity Audit Services provided by McGovern & Greene, LLP are designed to provide you with greater control over your construction dollars. Our team of experienced consultants, seasoned in the construction industry, is capable of identifying risks in every stage of the project – from planning, through construction to project close-out. Our investigative procedures will detect a wide variety of contract abuses both in financial and scope areas.
The Construction Activity Audit will bring benefits regardless of the type of contract used. Lump-Sum contracts carry scope related risks while with Cost-Plus or Time and Materials contracts risks shift towards cost components of the project. Our audit program will address specific risks and can be applied in the following stages:
Pre-Construction – We will recommend a system of controls including contractor selection criteria, pay application, and change order approval process. We will verify contractor's data, recommend contract language, and audit sub-contractor "buy-out" results.
Construction – We will provide routine or ad-hoc pay application audits, change order scope and price verification, cumulative cost components tracking as well as support documentation audit. Reconciliation of project expenditures will ensure that duplicate billings, duplicate payments, and/or duplicate scope items are detected in a timely manner. Interim audits of selected data on an as-needed basis can be an effective tool for ensuring full compliance with the contract documents.
Post-Construction – We will conduct a final audit of the project independent of the owner's close-out procedures. This audit will give you the opportunity to evaluate records and documents normally not seen during routine operation processes.
McGovern & Greene, LLP will work with your project management and/or internal audit professionals in a team environment to deliver best results most efficiently. The Construction Activity Audit Services we offer are further enhanced by our recognized expertise in government contracting, fraud investigation and prevention, construction arbitration as well as claims preparation and evaluation.
View our Construction Activity Audit Program for more information.