Construction projects are highly visible, complex undertakings requiring significant financial commitments. Whether you’re spending public or private funds for your construction project, Baker Tilly can help ensure your initiative isn’t costing more than it should.
We work hand in hand with your construction team from contract negotiation through the final pay application, mitigating project financial risk by providing independent financial oversight and financial controls to your construction project. Our construction audit and contract control consulting services provide a sense of security that your construction project budget, polices and ethics are protected.
Understanding Construction Contract Controls and Construction Audit Best Practices This webinar series provides an overview of the construction contracting process, offers industry insight, and delivers the tools necessary to get you started.
New! Advanced Construction Contract Control and Construction Audit Best Practices Learn how to put construction audit best practices into practice with this advanced series of webinars, in which we’ll leverage real project examples to dig deeper into utilizing auditing tools and resources.
Part one - Construction contract fundamentals This webinar will describe how internal audit can successfully participate in pre-construction planning activities to help mitigate financial, operational, and compliance risk for the institution. We will discuss the construction lifecycle and owner’s responsibilities, including those of the owner’s representative, architect, construction manager, and compliance and audit personnel.
Part two - Construction financial controls and contract compliance Learn strategies and approaches to participating in and performing continuous monitoring of active construction projects. We will discuss risky areas of the construction process including change order control, pricing, and scope, as well as progress reporting, project controls, contract accounting, business ethics compliance, document compliance, and design, plan, and specifications compliance.
Part three - Post-construction auditing and fraud detection Have you ever asked yourself it it’s too late to audit a construction project? Or question would you would even look for? Learn how you can assist in detecting potentially fraudulent, wasteful, or abusive construction practices while strengthening your organization’s internal control environment. Attendees will also learn strategies and approaches to participate in and perform post-construction audits.
Part four - Performing construction contract risk analysis Learn how to analyze a construction contract for project risk and develop a risk mitigation plan. The presentation includes a case study review of Guarantee Maximum Price, Stipulated Sum, and Unit Priced contracts.
Part five - Best practices for preventing budget scope creep Change orders and soft costs, such as insurance, general conditions, and fees often lead to scope creep because they are often poorly defined in the contract terms and misunderstood by owners. Through case study analysis, this webinar will decompose each of these cost types, how they impact the project budget, and how to develop audit steps to verify contract compliance or document owner credits.
Part six - Direct construction cost audit toolbox Join our experienced construction audit professionals to discuss issues, tools, and resources for auditing direct construction costs. Presenters will utilize case studies from real construction projects to apply the auditor’s toolbox and demonstrate the value of auditing direct construction costs.
