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Auditing Construction Activities
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Period |
6/10/2024 - 10/10/2024 |
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Place |
Dubai - UAE
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Fees |
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Major construction can shape not only the public face but also: funding requirements, short-term expenditures, availability of capital for other projects.
Construction projects impact many aspects of the organization: will impact your balance sheet of your organization but drive long term profitability of your organization, service delivery, long-term operating costs for many years.
Fraud is a major factor on many projects and fraud percentages range depending on the country, type of contract, specifics of the contract and phase of construction. Ironically some common fraud practices utilized in many companies are not expanded to construction projects. Fraud not only impacts project finances but attracts regulatory scrutiny, mars reputation, effects employee morale,
can compromise overall quality and project delivery. We will examine the phases of construction and the frauds that can occur at each and every one of these phases. In addition, attendees will learn mitigating controls to help reduce fraud or substantive tests to detect fraud. This class will examine industry recognized "Pillars of Success" the interrelationship between them and how the audit needs to adjust their focus to cover there areas. We will also see how these pillars impact overall risk of the project and how projects should e designed to ensure success across all project levels.
The focus of this training event is to prepare auditors and project managers to comprehensively address the factors required for a successful project, identify fundamental risk, and assist in the development of effective controls to help the project succeed. Attendees will learn essential fundamentals of construction management, to prepare a comprehensive risk assessment and effective audit testing steps to identify errors and emerging issues.
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