Construction Project Audit

Construction Project Audit

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Construction Project Audit

Each move and resource associated to project is cost. Cost drive profitability of project hence need to be audited. Compact project completion duration leads tight scheduling and pressured working, cause overlook some important checks hence external auditor is required.

Key Features:
  • Helping protect assets, assuring profitability and reduce the possibility of fraud
  • Improving efficiency in operations
  • Increasing financial reliability and integrity
  • Establishing monitoring procedures
  • Assuring consumption of all finance and resources are converting into revenue or not.
Our Audit services include but not limited to following concern:
  • Is designing and engineering as per contractual specification or over than required?
  • Is procurement as per project requirement or over than required?
  • Is supply and usage of resources as per project requirement or over than required?
  • Is productivity of manpower satisfying project requirement or under than required?
  • Are all the project expenses converting into revenue or not?
  • Is project operational process and documentation really supportive to successful completion of project or increasing unnecessary time-consumption, burden and complexity?
  • Is same information is sharing by departments or all departments doing individual exercise for same information?
  • Is invoice to client covering all work done at site or missed some items/quantities?
Type of Audit:
  • Engineering & Design Audit
  • Procurement Audit
  • Store Audit
  • Productivity Audit
  • Invoice Audit
  • Internal Procedure Audit
Who avail our services?
  • General Contractors/ Sub Contractors
  • Architects/ Engineers
What is our Rates?
Our rates are INR 700/ hours

Why should you hire our Construction project audit service?
Construction project auditing is designed as an independent consulting activity designed to overcome undetected weakness and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of operational/management process, control, assurance and forms transparency in each move and activity, along with focus on hidden losses. Simply said, Construction project audit is indicator and booster to maximize outcome of teamwork.
Construction project audit gives control, often referred to as management controls, in the broadest sense includes the plan of organization, methods and procedures adopted by management to meet its missions, goals and objectives. It also serves as the first line of defense in fraud and violations of laws, regulations and provisions of contracts and agreements. It is to find “errors” and “missings” in project regulatory action and procedures and provide recommended corrective and recovery actions.
We go beyond the traditional audit fundamentals and add tangible value by reducing exposure to unpleasant surprises. We make practical recommendations when weaknesses are identified and follow-up to ensure the result has effected real change to prevent small problems becoming big ones. This contributes to a robust corporate control process.

Benefits of Construction Project Audit
  • Understanding existing process and procedures, synchronizing them with IT based solution systems thus utilizing them in processing claims backup and other management data
  • Identifying gaps, trouble areas, where procedures and controls are not properly designed
  • Audit reports and recommendations directly provide to company management and kept highly confidential for external bodies/ agencies.
  • Audit update and upgrade “project control policies” of the organization
  • Build process dependency and transparency instead of personal dependency
  • Identifies superfluity in operational and control procedures and provides recommendations to really required and effective procedures
  • Serves as an Early Warning System, facilitate deficiency to be identified and remediated on a timely basis (i.e. prior to external, regulatory or compliance audits)
  • Early alarm system, facilitating in identify and remediating deficiencies.Increases accountability in team within the organization

Contact us to know more about our Construction Project Audit Service fix