Managing Director, CPA, ABV, CFF, CFE

Forensic Accounting

Construction Risk Management

Insurance Quantification

Insurance Litigation Services

Director, CPA

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Construction

Partner, CPA, CCA

Published in Association of College and University Auditors' (ACUA) Winter 2021 issue of College and University Auditor Journal. The construction industry has historically been a slow adopter of technology, and rightfully so. The builders of our roads, homes, offices, and campuses need to be thoughtful when evaluating new technology that may impact safety and quality in exchange for speed and cost reduction. Consequently, the introduction of robotics, video monitoring, and automated quality controls has trailed behind other industries, such as manufacturing and distribution. Similarly, as the availability of digital information has increased, the implementation of automated construction audit techniques has lagged. However, high speed wireless communication, handheld devices, and a need for labor force alternatives continues to drive construction technology innovation and adoption. Construction auditors must remain knowledgeable with the latest industry tools and understand how to evaluate new construction technologies’ impact on construction risk management.  Technology and Construction Project Data Automation The most established technological advancements, such as GPS-enabled cranes and heavy/highway equipment with onboard performance metrics, enable operators to cut, grade, and measure moved earth with a high degree of precision. The equipment can be monitored remotely, which allows companies to track their exact location, operating hours, consumables, and environmental conditions. The existence of this data also provides information for construction audits. Rather than analyzing paper copies of supporting documentation, construction auditors may now utilize available digital technology to download equipment metrics and capture quantities moved, hours operated, and other pertinent equipment usage data quickly. A large campus transformation project may include new buildings, new roads, and new underground infrastructure. This would require moving large amounts of dirt and parking contractor equipment at the jobsite, resulting in monthly bills for dirt hauling, aggregate purchases, and heavy equipment rental. To determine whether the quantities billed are representative of actual activity, an engineer could measure the dimensions of the dirt (i.e., how high and wide the dirt sits) to calculate the quantities moved.
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

With a large campus construction project, a construction auditor must remain knowledgeable with the latest industry tools and understand how to evaluate new construction technologies’ impact on construction risk management.

Higher Education

Real Estate

Risk Advisory

Emerging technologies’ impact on construction audits

A construction contract controls and construction audit webinar series Construction projects are highly visible, complex undertakings requiring significant financial commitments. Whether you’re spending public or private funds for your construction project, the Construction Audit Toolbox webinar series can help ensure your initiative isn’t costing more than it should.  This webinar series provides auditors, facility administrators, CFOs, and other professionals involved in construction project management with an overview of the construction contracting process, construction project audit checklists and templates, best practices, industry insight, and the tools necessary to get you started. View on-demand webinars by topic below.

A construction audit and contract controls webinar series to help you with accounting best practices, developing project audit checklists and the tools necessary to get started.

Energy

Healthcare & Life Sciences

Law Firm & Professional Services

Lodging

Multifamily Housing

Real Estate Investors

Health Plans

Behavioral Health

Senior Services

Hospitals & Health Systems

Banking & Capital Markets

Community Banks

Consumer Lending

Credit Unions

Consulting

Complex Disputes & Litigation

Development Advisory 

Construction audit toolbox webinar series

Construction Audit Toolbox: a construction contract controls and construction audit webinar series Video Construction projects can be high-profile and high-risk. Because of this, it’s important to take the proper steps to mitigate financial, operational and compliance risk within your projects. This session introduces attendees to the fundamentals of performing a construction audit and how an internal audit can become an integral partner in strengthening the internal control environment. In this case study-focused on-demand webinar, you will learn how to: Identify high-risk capital projects Perform a contract risk analysis Write a construction audit program
For more information on this topic, or to learn how Baker Tilly specialists can help,  contact our team.

Establish construction audit fundamentals by learning how to identify high-risk capital projects, perform contract risk analyses and write construction audit programs.

Community Banks 

Project Development Office

Construction audit program fundamentals

Construction Audit Toolbox: a construction contract controls and construction audit webinar series https://play.vidyard.com/d3P6PQBczbqmoQiMJVZctp  The rate of change impacting facility development and the construction industry is happening at a record pace. Industries are faced with obstacles including, but not limited to, COVID-19, environmental efforts such as reducing the carbon footprint, and supply chain shortages. In a culture of rapid change, project controls may be weakened by new project variables therefore exposing your facility development to fraud and abuse. In this on-demand webinar, you will learn how to evaluate the construction environment to identify risk, fraud and financial impacts. Additionally, you will: Gain the knowledge to differentiate between construction fraud, negligence and carelessness Learn contracting strategies that minimize construction financial risk Utilize case studies to understand where in the construction lifecycle risk exists and how it may be mitigated
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Avoid construction fraud and decrease risk by learning how to identify risk, fraud and financial impacts within the construction environment.

Construction fraud prevention

Video  Construction Audit Toolbox: a construction contract controls and construction audit webinar series  The construction industry has been impacted by COVID-19 and consequently, so has auditing construction projects. With a new set of health and safety standards, auditors must be prepared to answer questions such as: “Are job sites compliant with health department guidelines?”, “How are increased costs estimated and billed?”, “Who is responsible for guideline enforcement?”, “How is healthcare data managed?”, and “How do you execute your audit program while working remote?” These are just a few of the newly added questions to construction auditing. This webinar answers these questions, as well as addresses associated risks and construction audit impacts as we continue to perform audits during COVID-19 and in a post-pandemic environment.   This case study-packed presentation illustrates: New construction contract terms and conditions Work-from-home methods Force Majeure audit procedures Pandemic compliance audit programs Emerging audit risks
For more information on this topic, or to learn how Baker Tilly construction and real estate specialists can help,  contact our team.

COVID-19’s impact on construction project audits has caused auditors to answer a new set of questions pertaining to health and safety guidelines, compliance and enforcement and increased costs – all of which is discussed in this webinar. 

Performing construction audits during COVID-19 and post-pandemic

The latest data for 2020 predicts a significant drop in construction growth as a result of COVID-19, among other factors. With growth decreasing and significant losses in other industries, it’s important for contractors to understand what they should be focusing on in order to prepare for the economic rebound and protect their financial resilience.  As senior manager, Laura Cataldo states, “The important thing for contractors to focus on is to strategically diversify, complete projects based on prior experience and only take jobs that have the likelihood of profit potential. It’s important to invest in understanding the needs and how to meet the needs of customers post-COVID-19, because all industries have been impacted and if you can understand how your customers’ industries have been impacted, you’ll be well-positioned to be successful as a partner to them moving forward.” Listen to the entire recording where industry experts share lessons and examples from around the world of companies ensuring profitability, being proactive and challenging competitors.  IFS MindFuel is a series of industry specific, thought-provoking sessions where industry leaders share their perspectives, advice and “how tos” to navigate these turbulent times and build for the future.   Watch the video Create your free account and you’ll be directed to the video. Speakers Laura Cataldo, Senior Manager of construction and real estate services, Baker Tilly Vee Baker, Director of Global Campaigns, IFS For more information or to learn how our specialists can help, contact our team.

Baker Tilly speaks at IFS MindFuel session, which explores what construction contractors should be focusing on in order to prepare for the economic rebound as a result of COVID-19.

Construction coronavirus resources

How can a construction industry challenger capitalize on the current circumstances?

Managing COVID-19’s implications have dramatically impacted our daily lives. The new way to work is now limiting in-person contact, not only at the office, but on construction jobsites too. Construction projects that had superior on-site management may now be working with less supervision and control.  Construction fraud comes in many forms and in today’s environment invites more occurrences.  Listen to Paul Greilich and Tony Ollmann on The Real Estate Council’s (TREC) podcast, TRECcast, as they discuss construction fraud. They give a snapshot of current fraud schemes and mitigation methods that are relevant in both the current COVID-19 environment and post-pandemic. Listen to part one Listen to part two For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

In these TRECcast episodes, we give discuss construction fraud by giving a snapshot of current fraud schemes and mitigation methods that are relevant in both the current COVID-19 environment and post-pandemic. 

Fraud & Forensic Investigations

Real estate coronavirus resources

Coronavirus Resource Center

Managing construction fraud in the current environment

Throughout the project lifecycle, having the ability to control the project commercials and financials is critical to optimizing margins and delivering to contract. As Baker Tilly partner Tony Ollmann states, “during this pre-construction phase, being able to bring all of the players in upfront, well before construction contract terms have been defined, is essential to a successful project. There will always be surprises, that’s the nature of construction, but that doesn’t mean we can’t all work towards minimizing the number of them that happen with good upfront planning and communication.” Listen to the entire recording where industry experts explore how best to attain and maintain control of project commercials and financials – delivering success for your business.  IFS MindFuel is a series of industry specific, thought-provoking sessions where industry leaders share their perspectives, advice and “how tos” to navigate these turbulent times and build for the future.   Watch the video Create your free account and you’ll be directed to the video. Speakers Tony Ollmann, Partner, Baker Tilly Russell Collie, Project Manager, IFS Steve Treagust, VP of Industries Programs, IFS  Robert Fitzmaurice, Director, CS Consulting Group For more information or to learn how our specialists can help, contact our team.

Baker Tilly speaks at IFS MindFuel session that explores how construction industry organizations can best attain and maintain control of project commercials and financials – delivering success for your business.

What makes for commercial and financial success in major construction projects?

Published in Association of Healthcare Internal Auditors’s (AHIA) publication Authored by Kevin Morrical Healthcare organizations are undergoing constant construction and renovation to build the physical facilities needed to accommodate growth in existing and new services. However, most internal audit departments are challenged to handle the rigors of auditing multimillion-dollar construction projects. Construction auditing requires a depth of experience that the typical healthcare internal auditor may not have. Many internal audit departments cannot justify the costs of maintaining this subject matter expertise in-house. Construction audit consultants can provide this expertise to your organization. Your department can do many things to maximize the benefits of these consultants.
For more information on this topic or to learn how Baker Tilly specialists can help, contact our team. This article was reprinted with permission from the Summer 2020 (39-2) issue of New Perspectives, published by the Association of Healthcare Internal Auditors (AHIA), www.ahia.org.

Healthcare organizations are undergoing constant construction and renovation to build the physical facilities needed to accommodate growth in existing and new services. However, most internal audit departments are challenged to handle the rigors of auditing multimillion-dollar construction projects.

Hire a construction audit consultant; actively participate for best results

The COVID-19 pandemic is affecting construction projects in a variety of ways, including additional costs to protect worker safety, questions on who is responsible for these additional costs, and project delays related to local ordinances about business closure. This FAQ list highlights issues that will help site owners and internal auditors better prepare and manage COVID-19-related costs. Who is responsible for project costs impacted by COVID-19? The construction contract defines the budgets and responsibility for construction costs. Construction site-specific costs will generally be the responsibility of the project owner. Examples of these costs are: housing and transportation for job-site personnel, job-site safety and on-site COVID-19 testing. Back-office costs are the responsibility of the contractor. Examples of back-office costs are: work-from-home costs, accounting staff, company management, general COVID-19 planning and education, and human resources costs. What are acceptable costs related to COVID-19? Hygiene and cleaning costs – Costs to keep the job site germ free and provide a safer work environment are going to be the owner’s responsibility. Project delay costs – These costs may arise from construction material shortages, labor shortages and smaller construction crews. While these costs are acceptable, they should be fully documented and negotiated.  General conditions costs – Most of these are time-related costs, and as the project schedule is affected by COVID-19 delays, the owner will likely incur the extra general condition costs. Examples of these costs are labor, equipment rentals, security and utilities. What costs should be avoided? Anything that duplicates current practices without adding any additional value Delay costs that are not the result of a COVID-19 management plan; COVID-19 could be made a convenient excuse for rework, poor quality and inefficiency, and these costs should not be accepted by the owner or auditor General condition costs that are not time-related. Some costs are fixed and do not change regardless of schedule; examples of these include mobilization, office equipment purchases, temporary roads and layout yards Should change orders caused by COVID-19 be managed differently than other change orders? Yes. All additional costs should be segregated from planned construction costs. These costs may be treated differently resulting from changing legislation, tax law or insurance treatment; therefore, do not comingle contingency and allowance usage or change orders with COVID-19 response costs. Are costs incurred due to COVID-19 reimbursable under most insurance programs? No. Most insurance programs exclude pandemics. However, read your policy and exclusions carefully and seek out legal counsel to interpret coverage. Does asserting force majeure terms automatically result in the owner accepting all consequential costs? Not automatically. Good contractors will be coordinating with owners to define what costs are the result of force majeure conditions. Understanding the root cause of these costs will enable both contractor and owner to agree on the costs and subsequent action items. The kinds of costs that may lead to dispute will be those that would have been incurred if the COVID-19 pandemic had never occurred, for example, poor workmanship, rework and substandard materials. Will surety or performance bonds protect the owner from contractor delivery failure? Maybe. Many surety programs have custom covenants complying with state and local government requirements that will protect the owner from a pandemic-related failure. Consequently, reach out to legal counsel or insurance agents and review the coverage to determine if the bond program provides pandemic protection.  Additional tips in the current environment Collaborate with your contractor – This is a new experience for everyone and together all parties will achieve a better solution than taking an adversarial position. Ask contractors for their COVID-19 response plan and plan to work with them so it meets everyone’s needs. The response plan should include the necessary job-site safety practices, a list of essential project employees, and standby rates for people and equipment if the job site is shut down. Don’t wait to develop this plan. Proactively work with your contractor to implement a course of action before it becomes a change order. Maintain good procurement procedures –  There will be projects where speed to completion is paramount. Don’t forego your procurement procedures for sake of speed. Find ways to compress the process that doesn’t include cutting out pre-qualifying contractors and suppliers or eliminating bid submittals. Finally, unknown circumstances and new challenges present opportunities for unethical people and companies to take advantage. Fraud will increase in this environment, so don’t eliminate project controls, therefore exposing yourself to unnecessary risks. For more information on this topic or to learn how Baker Tilly specialists can help, contact our team.

This FAQ list highlights issues that will help site owners and internal auditors better prepare and manage COVID-19-related costs.

Depository & Lending

Insurance

Academic Medical Centers

Higher education institution coronavirus resources

Banking coronavirus resources

Health plan coronavirus resources

Healthcare provider coronavirus resources

COVID-19 construction audit FAQ for internal auditors and owners

Our client’s need A university with campuses throughout the world built a $22 million, 53,000 square foot STEM laboratory and classroom, which overran the planned project budget. Change orders had been poorly documented and cost per square foot had escalated. The university needed to uncover if the increased cost was due to their own design changes, contractor performance, or poor construction management controls.  Baker Tilly solution The university had never previously completed a construction contract audit or reviewed their construction project controls. Due to Baker Tilly’s experience with STEM projects and construction project controls, Baker Tilly was brought in to design and execute an audit program. The objectives of this closeout audit were to determine the source of the change orders, if they were priced using the contract terms and if circumstances around the change order management process should be changed.  Results achieved After the audit and controls review, Baker Tilly came to the following findings: The contractor had failed to credit the construction management fee and general conditions on deductive change orders of nearly $1 million. The university was credited for $93,000 of construction management and general conditions overcharges.  Approximately $300,000 of change orders were approved without supporting price documentation. More than $2 million of changes were approved without the university performing scope and price verifications. In result, the facility development team implemented changes to the university’s change order control environment. The completed project audit and review resulted in a 3:1 fee return on investment. For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

A multi-campus university recovers $93,000 overcharged construction management general condition fees arising from change orders and implements new change order control procedures after Baker Tilly is brought in.

International university implements new change order control procedures after overrunning project budget

Our client’s need A top 100 university with a $93 million student housing project needed to mitigate construction financial risk. Specifically, ensure contractor billings were contractually correct, change orders were necessary and not overpriced, labor billing rates were correctly applied and reimbursable costs were not double charged. Rather than building in-house construction contract auditing expertise, the university saw greater value in outsourcing the engagements to specialists.   Baker Tilly solution Because of Baker Tilly’s extensive subject matter knowledge and higher education project experience, we were engaged to continuously monitor the risk and compliance of the university’s construction project. The construction audit methodology used included testing contractor invoices and change orders every month for contract compliance, verifying timely payments to subcontractors, and ensuring the reimbursable costs billed to the university were allowed and supported with the appropriate documentation. This form of construction audit allows for early detection of overcharges and failures of project controls, resulting in timely correction and overcharge recovery. Results achieved Throughout the project development, Baker Tilly uncovered the following: On a single invoice, the contractor had overcharged the university over $2 million.  Labor rates were billed at a higher rate than contracted. Approximately $43,000 was credited back to the university. Rental charges on 138 pieces of equipment exceeded the replacement value. With a financial value of $7,000, the contractor provided the university a credit on a subsequent payment application. Concrete barriers were rented at a rate which exceeded the contract by nearly $4,000. Labor charges exceeded the agreed upon 85 hour, two week maximum. The total amount of overcharges credited back to the university was $2,268,008, a 32:1 Baker Tilly fee return on investment. For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Baker Tilly’s construction contract compliance services lead to early detection and recovery of overcharges during university project development.

Major private university avoids over $2 million of overcharges

Baker Tilly’s Paul Greilich and Tony Ollmann joined Dallas’ The Real Estate Council (TREC) for a two-part podcast series on construction fraud. Construction fraud can happen with any project and in many different forms. It is critical that owners know how to recognize fraud and put preventive controls in place to protect their assets. In part one, Paul and Tony discuss: Different types of construction fraud Project conditions that could lead to fraud How to detect construction fraud
Part two includes discussions of: Preventing construction fraud through precise and fair construction contracts What you need to know about prosecution How to follow-up if your company is victim of fraud
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Baker Tilly’s Paul Greilich and Tony Ollmann joined Dallas’ The Real Estate Council (TREC) for a two-part podcast series on construction fraud.

TRECcast: detection and prevention of construction fraud

Video Templates can be a powerful tool for standardizing the collection and reporting of information. Internal audit professional can use templates to analyze applications for payment, prepare control schedules and produce reports. During this webinar, our presenter discusses how to successfully template the most significant information for a construction audit. Additionally, the presenter addresses how to implement quality assurance procedures and controls to help ensure the integrity of the templates. Learning Objectives: Select the subject matter for and build templates Understand when to customize a template Implement review procedures to verify template accuracy View the presentation > For more information on this topic, or to learn how Baker Tilly construction specialists can help, contact our team.

View our second webinar in the series to learn how to successfully template the most significant information for a construction audit.

Building construction audit templates

Video link Achieve construction audit efficiency and effectiveness with appropriate subject matter knowledge, solid methodology and a toolbox of checklists and templates for each of the major phases of a construction audit. During this webinar, our presenter walks through how you can develop construction audit checklists and customization guidelines that meet the needs and risk mitigation goals of a construction project. Some of the checklists we discuss include contract risk assessments, document requests, control interviews and auditor’s red flags. Key learning objectives: Select the subject matter for and customize a construction audit checklist Differentiate between checklists and audit tasks Recognize the risks of using unmodified checklists View the presentation > For more information on this topic, or to learn how Baker Tilly construction and real estate specialists can help, contact our team.

In the first webinar of our "construction audit toolbox" series, we walk through how you can develop construction audit checklists and customization guidelines that meet the needs and risk mitigation goals of a construction project.

Building construction audit checklists

Video link Every project has a return on investment (ROI). ROI may be measured in dollars but also in some other form of a cost/benefit analysis. Regardless of how it is measured, prudent project planning includes an ROI analysis that incorporates the cost of a construction project based on a set of assumptions and contingencies. An owner can reduce overall project cost and improve ROI by reigning in cost overruns and unnecessary expenditures. This webinar covers effective strategies to shorten the construction schedule, avoid unnecessary costs and identify potential overcharges. Learning objectives: Measure the impact of cost reduction on ROI Implement project controls most effective in reducing construction costs Understand how third party requirements for construction controls can reduce capital cost View the presentation > For more information on this topic, or to learn how Baker Tilly real estate specialists can help, contact our team.

This webinar covers effective strategies to shorten the construction schedule, avoid unnecessary costs and identify potential overcharges.

Improving construction project ROI

Video Have you ever driven by a construction site during the day and wondered why no one was working? Wondered why a shiny new building appearing to be tenant-ready is empty? Or read an article about a project that has overrun its budget? These are some of the outward characteristics of a project that may have gone wrong. This webinar explored the root causes and early indicators of issues that can derail a project and lead to relationship failure between an owner and contractor. The presenter suggests strategies to mitigate this risk and correct construction projects going awry. Learning objectives: Detect early warning signs of under-performing projects Implement and manage project controls and effective communication to deter to project failure Employ best practices for managing construction risk View the presentation > For more information on this topic, or to learn how Baker Tilly real estate specialists can help, contact our team.

This webinar explored the root causes and early indicators of issues that can derail a project and lead to relationship failure between an owner and contractor.

Why do construction projects go wrong?

Video Public-private partnerships (P3) are becoming a dominant funding mechanism in the U.S. for projects such as hospitals, student housing, low incoming housing, tollways and municipal buildings. P3 projects carry the typical construction risks but also unique development risks. This webinar explores different types of P3 projects and highlights sources of risk to the contractors, owner and public entity during planning and construction. The presenter also reviewed mitigating actions to address those risks and the costs associated with doing so.   Learning objectives: Understand and identify risks for each stakeholder in the P3 transaction Analyze  pre-construction and development agreements for transaction risks Perform a P3 construction contract risk analysis and write a P3 project audit program Identify contract red flags that require an auditor’s attention View the presentation > For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Auditing public-private partnership (P3) contracts

Video Fixed price contracts—often referred to as lump sum, stipulated sum or EPC—offer an owner a level of comfort by delivering a set scope for a known price; however, these contracts still burden the owner with risks of change orders, material substitution and schedule slippage. This webinar will teach viewers how auditing these contracts at the preconstruction stage and closeout can help prevent unnecessary costs and project surprises. Key learning objectives: Understand how to identify risks of a fixed price contract Learn how to write a fixed price contract audit program Learn how to recognize audit red flags that require an auditor’s attention View the presentation > For more information on this topic, or to learn how Baker Tilly real estate specialists can help, contact our team.

Auditing fixed price contracts

Video Construction contracts provide guardrails to a project by outlining the rules of engagement for the owner and contractor. A contract defines what costs can be reimbursed, procedures for change orders, insurance requirements and consequences for failure to deliver either by the owner or contractor. This webinar focuses on the commonly used guaranteed maximum price (GMP) contract model and the increasingly used integrated project delivery (IPD) contract model. The presenters used examples of contracts from real projects to illustrate why and how an owner can mitigate risks with a well-written construction contract. They also provided examples of red flag events that an auditor needs to recognize and act upon to prevent unnecessary risk exposure to an owner. Key learning objectives: Learn how to identify contract clauses that are unfavorable to the owner Understand how to analyze labor and equipment rates for undisclosed profits Identify contract red flags that require an auditor’s attention View the presentation > View the Q&A > For more information on this topic, or to learn how Baker Tilly real estate specialists can help, contact our team.

Performing construction contract risk analysis

Independent financial oversight, strategic guidance and advice on financial controls to help you mitigate project risk and avoid unwanted surprises.

This construction audit essential guide introduces project owners, managers and other stakeholders to the principles and action steps associated with construction audits.

Construction projects are high-stakes endeavors, requiring significant investments of time, money and human resources.

Our construction risk management specialists work with organizations across many industries to ensure their development initiatives do not cost more than they should. We work hand in hand with your development, facilities management and construction team from contract negotiation through the final pay application, mitigating project financial risk by providing independent financial oversight and advising on financial controls. No matter what stage your project is at, we can help you achieve success through:

Construction contract review and negotiation

Tony Ollmann is a partner with Baker Tilly’s construction risk management practice. He has more than 20 years of experience in the construction industry  providing risk management, project controls and operations consulting  services to owners, operators and contractors. His project experience  spans from large complex construction audits to single thread financial  controls and process improvement consulting. Additionally, Tony provides  litigation support services to owners and contractors. He is a regular  contributor to Construction Accounting and Taxation, as well as a  requested speaker to numerous construction, trade, audit and industry  associations.

Construction projects are highly visible, complex undertakings requiring significant financial commitments. Whether you’re spending public or private funds for your construction project, these webinars can help ensure your initiative isn’t costing more than it should.

Construction audit toolbox: a construction contract controls and construction audit webinar series

Labor dispute support saves client millions of dollars

Client strengthens its management of capital projects through construction audit

MWBE, SBE, and DBE integrity monitoring for a large municipality’s school district modernization program

Keep your capital projects on time and on budget.

Independent financial oversight, strategic guidance and advice on financial controls to help mitigate construction project risk and avoid unwanted surprises.

Construction Risk Management

Emerging technologies’ impact on construction audits

Construction audit toolbox webinar series

Construction audit program fundamentals

Construction fraud prevention

Performing construction audits during COVID-19 and post-pandemic

How can a construction industry challenger capitalize on the current circumstances?

Managing construction fraud in the current environment

What makes for commercial and financial success in major construction projects?

Hire a construction audit consultant; actively participate for best results

COVID-19 construction audit FAQ for internal auditors and owners

International university implements new change order control procedures after overrunning project budget

Major private university avoids over $2 million of overcharges

TRECcast: detection and prevention of construction fraud

Building construction audit templates

Building construction audit checklists

Improving construction project ROI

Why do construction projects go wrong?

Auditing public-private partnership (P3) contracts

Auditing fixed price contracts

Performing construction contract risk analysis

Independent financial oversight, strategic guidance and advice on financial controls to help you mitigate project risk and avoid unwanted surprises.

Construction audit essential guide

Construction projects are high-stakes endeavors, requiring significant investments of time, money and human resources.

Our professionals

Construction audit toolbox: a construction contract controls and construction audit webinar series

Case study

Case study

Case study