What to Audit, How to Audit and Importance of the Construction Audit - OAG140WEB

What & How to Audit a Construction Audit OAG140WEB

What to Audit, How to Audit and Importance of the Construction Audit - OAG140WEB
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Upcoming Dates & Locations

Virtual
Apr 29th, 2021

What to Audit, How to Audit and Importance of the Construction Audit - OAG140WEB

Overview

Internal auditors and organizational leaders might not consistently include capital projects in their annual audit plans. This is understandable due to limited experience with their complexities. This webinar provides best practices to auditing construction capital projects, including how to plan and perform them, the areas most susceptible to overcharges and other issues.


Who Should Attend

Internal auditors and project management staff.


Prerequisites

  • None

What You’ll Learn

You will learn the key steps involved in deciding which projects to audit, where to look for overcharges, lessons learned in situations where an audit was not performed and how an audit could have created clarity and mitigated loss.


Objectives

Identifying which projects to audit:

  • Learn how to identify and assign risk ratings to construction projects
  • Understand the importance of early involvement during the construction project

Identifying cost overbillings:

  • Identify where extra profits are commonly found
  • Discuss billing and change order issues
  • Learn from the mistakes of others: instructor will share examples of cost overruns

Why You Should Attend

You should attend because construction audits are high risk, costly, and have a significant impact on an organization’s strategic plans.

MIS Training Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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