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Conducting construction internal audits

About this course

While construction audits can deliver significant organizational value, they also pose unique challenges to internal auditors. During this hands-on, two-day course, you will learn a series of internal audit techniques to help you overcome these challenges. In addition to discussing construction industry fundamentals, this course will detail various types of construction contracts and their related risks. Through interactive exercises, you will gain the practical experience you need to conduct a construction audit within your organization – from identifying cost recoveries and risks to reducing project control deficiencies and the risk of fraud.

Who should attend

  • Internal auditors at all levels who want to learn the fundamentals of construction auditing

Learn how to

  • Identify the risks associated with major construction contracts
  • Adopt common techniques to mitigate construction contract risk
  • Design and execute construction audits
  • Use various techniques and approaches to identify areas of focus for cost recoveries

Course content

This two-day course will teach you:

  • An overview of construction contracts and concepts
  • The components of the construction lifecycle, including:
    • Planning
    • Programming & design
    • Procurement
    • Construction
    • Close-out
  • Typical risks and related control activities for each phase of the construction lifecycle
  • Strategies for defining the audit scope and approach
  • The use of data analytics
  • How to take fraud considerations into account in audit planning and execution

Prerequisites

None