Construction Audit Services
Tips & Advice to help you make your decision on Construction Audit Services
Construction projects are a large expense for many businesses. Often, inexperienced individuals do not fully understand the intricacies of complex construction contracts and budgets. Hiring a construction audit services company can help your business save money when it comes to construction projects. They ensure that construction contracts are delivered within the agreed budget and timeline and that there are no mysterious charges on the final bill. Construction auditors can help business clients recover project funds and ensure that the final project cost is accurate.
These kinds of auditors specialize in reviewing construction costs from every angle and are experts at examining complicated contracts. Auditing professionals thoroughly review labor, payroll, overtime, materials, subcontractors, travel, bids and equipment. Construction auditors are often able to recover large sums of money for your business by carefully reviewing construction projects and identifying areas of concern.
Construction audit services companies employ professionals that will help your business account for money spent on expensive construction projects and help you understand complex bills and estimates. Business.com has information about some of the best auditing services and links to find professionals in your area. Please visit the links on the left to find an auditing service for your next construction project.
Construction Audit Services
Construction auditing can save money and reduce project costsBy Virginia Franco, Freelance Writer Construction audit services grew in popularity with the boom in real estate construction. It is likely construction audits will stay in high demand as general contractors strive to streamline costs and save money.
Vast sums of money are spent at a frantic pace where construction is concerned. Coupled with the "many cooks in the kitchen" phenomena inherent in the building cycle (project managers, architects, not to mention subcontractors), it's easy to see how analyzing costs and expenditures with a fine tooth comb poses a challenge. Experienced construction auditors can help by reviewing project cost details, analyzing alternatives and evaluating billings.
Construction audit programs not only recover lost funds but help prevent future losses by carefully reviewing internal controls and accounting methodology. Consider the following when selecting a construction audit firm.
1. What type of construction auditing do you need? Construction audit firms sometimes have areas of specialty that they focus on.
2. Do the construction audit programs specialize in your line of construction?
3. Does the construction audit service have a good reputation?
Determine which of the available construction audit programs meets your needs
Construction audits can be performed before or after a project is completed. Auditing before construction begins can help verify project details and provide analysis of alternatives. A closeout audit after a project is complete can evaluate past billings and identify over-billings.
Try: Capital Project Review Services details the areas where their expertise is focused -- including before and after auditing services. Kelly Business Consultants claim they recover three to five times their fee on close out construction audits.
Make sure the construction audit programs specialize in your field
Each construction project is unique -- and building a bank is very different from building a hospital. Make sure your choice of an auditing firm is skilled in your line of construction.
Try: Construction auditing companies often list their area of construction expertise. R.L. Townsend & Associates has experience with large scale projects ranging from manufacturing plants to universities. Kessler International has smaller scale expertise including residential and religious building.
Familiarize yourself with the past successes of construction auditors
Many construction audit services list case studies detailing where their audits saved money and reduced project costs.
Try: JBK Associates and Commercial Cost Control are two construction auditor services that, according to their case studies, have saved or recovered thousands of dollars on their clients behalf.
- Many lenders, insurers, and even brokers of commercial real estate are considering environmental construction audits as a means of controlling their liability for environmental contamination. When evaluating construction audit programs, see if they have licensed or board-certified professionals such as professional engineers, certified industrial hygienists or registered architects on staff.
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