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The Construction Audit and Cost Control Institute to Address "The Benefits of Auditing Construction Contracts and Contractors"
Date:8/31/2013

p;  Cost recovery. Some organizations with significant capital expenditures consider auditing contracts an integral part of their culture. Experienced construction auditors report disallowing costs of about 1%. At the 2012 Best Practices Workshop two organizations reported actual cost recoveries of $26 million and $100 million over five years.    
  •     Construction contracting process improvement. Problems identified by auditors can provide management the opportunity to look at real causes. Critical consideration of causes can result in improvements in designing the work, making the deal and contracting, monitoring the work itself and handling pay requests, change orders and contract claims.
  •     Earlier identification of problems. Don’t wait to discover problems when they are too large or too serious to be ignored. Identifying issues early gives owners the opportunity to minimize impact.
  •     Comfort of knowing construction costs have been reviewed. Most owner executives lack the in-depth knowledge and experience to identify subtle problems in construction work and billings. An effective audit can provide comfort that the costs have been looked at.
  • Click here for a more detailed agenda.

    This workshop is designed to provide committed construction audit and construction project control professionals with the opportunity to explore specific challenges and collaborate with colleagues. Last year’s Workshop achieved our total planned maximum attendance. Participants included construction project control representatives, CFO’s, construction directors, construction project ma
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