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AAIA 32nd Annual Conference

Join Baker Tilly at the 32nd Annual Association of Airport Internal Auditors (AAIA) Conference taking place from June 26-30 in Orlando, FL. This conference brings together airport audit professionals from across the world to exchange best practices, sharpen skills and network. We are proud to sponsor this engaging conference where Baker Tilly's very own Tony Ollmann and Tania Beltran will be presenting on construction fraud and waste prevention.

Construction fraud and waste prevention: an analysis of claims, litigation and supply chain

Thursday, June 30, 2022
11:30 a.m. – 12:30 p.m. ET

Construction project budgets out of control, terminal openings delayed six months, skilled labor shortages and Corp Counsel mired in construction claims. Microchips and automobiles aren't the only products feeling the coronavirus pinch! Construction projects are experiencing unprecedented cost pressure and Internal Audit has a significant role in mitigating escalating construction costs. We will review case studies demonstrating strategies to detect construction fraud, waste and abuse such as double charging coronavirus management costs, 100% profit margin increases, phantom progress and compounded fees.

Auditors need to be more vigilant than ever by deploying more than financial transaction testing. Today's audit programs include interviewing stakeholders to determine if their needs are being heard by the designers and building dashboards that real time monitor progress, schedule, forecasts, costs and budget variances. We will present a $1.5 billion terminal development case study to demonstrate how Internal Audit can materially help control costs. We will use pre‐construction auditing, continuous monitoring and closeout testing to show how each of these audit approaches empower Internal Audit to help keep construction costs in control.

Learning objectives:
  • Analyze construction costs, escalating risks and market factors
  • Migrate financial risks to audit methodology and audit programs
  • Demonstrate Internal Audit’s impact on mitigating construction project risks
  • Integrate market conditions into construction audit programs

This session may help satisfy the ACFE requirements for fraud‐related CPE.

Presenters:

Tony Ollmann, CPA, Partner
Tania Beltran, CPA, Senior consultant

Can't attend in person? No problem! This conference is hybrid so you can attend virtually.

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