Vendor Audit - Auditing Construction Contract

Book excerpt: Today, the practice of vendor audits has become an important mainstream activity in major corporations and professional firms, complementing the traditional financial and internal audit functions, and generating significant benefits and revenues for corporations and professional firms alike. The excitement of uncovering overcharges and exceptions in vendor auditing is both exhilarating and satisfying because it directly affects the company’s bottom-line and cash flow. This concise and easy to follow guidebook is a compilation of many years of audit work experience. It is especially useful as a primer for those who are not familiar with vendor audits and are unsure where to begin. The book uses audits of construction contracts as a basis of discussion, complemented with useful and time-tested audit checklists and guidelines. It allows you to quickly understand the concepts and how to approach conducting a successful vendor audit, and launching your assignment like a pro. The advice, approaches, checklists, and guidelines provided can be easily adapted to any audit assignments you may be undertaking.