Construction represents one of the highest areas of financial exposure for organizations—whether building new facilities, expanding operations or undertaking major renovations. With project costs often representing millions of dollars and involving complex contracts, multiple vendors and long timelines, organizations need structured oversight to ensure fiscal integrity and project performance. Common risks in construction projects include cost overruns and schedule delays caused by contractor performance, unforeseen conditions or supply chain disruptions and exposure to unallowable costs through inadequate contract controls and advantageous billing practices.
A construction audit ensures capital projects are managed efficiently and transparently by verifying costs align with contracts and budgets, detecting overbillings, duplicate charges and unallowable costs. It confirms contractor compliance, reduces risks such as fraud and delays and evaluates project governance. Ultimately, construction audits promote accountability and provide valuable insights for future projects.
This webinar provides an accessible yet comprehensive introduction to construction audit fundamentals, equipping participants with practical concepts, tools and insights to help them identify and mitigate construction risks effectively.