Managing the financial risk of a multi-million dollar capital investment is not only prudent but necessary to protect an institution’s capital investment.
This session will teach you about organization and construction controls assessment, testing transactions, verifying compliance and addressing fundamental construction project audit questions, such as:
- What transactions need to be tested?
- Are there costs that do not need to be tested?
- When should you do a 100 percent sample?
- What factors drive testing populations and sample sizes?
With an understanding of testing established, attendees will learn how to document the observations, list the preliminary findings and understand the reporting process. The workshop will conclude with a discussion about drafting and presenting an audit report, including building consensus around the findings, setting a positive tone in the report and writing for the target audience.
Participants will learn how to:
- Define construction project audit objectives
- Identify construction financial risk
- Write a construction audit program
- Verify audit objectives are valid and meaningful
- Identify testing populations
- Select sample sizes
- Perform transaction tests
- Identify the report user audience
- Structure the report
- Utilize a preliminary findings list
- Resolve findings and issues
- Deliver the audit report
Please register by Monday, Oct. 16
Cost to attend: $200 per person
After registering, you will receive a confirmation and invoice with payment options.
Cancellation policy. If you cancel, you may send a substitute from your organization. Participants who register but neither attend nor cancel (by Monday, Oct. 16) are liable for their full registration fee. For substitutions, cancellations and questions about this policy, call 608 240 6763.
7:45–8:15 a.m. |Registration begins (light breakfast will be served)
8:00–8:15 a.m. |Introduction and housekeeping
8:15–8:30 a.m. |Construction project auditing foundation
8:30–10:45 a.m. | Contracting fundamentals
10:45–11 a.m. | Break
11 a.m.–Noon |Audit program development
Noon – 12:45 pm. |Lunch (provided)
12:45 – 1:30 p.m. |Audit program development continued
1:30 – 3 p.m. |Fieldwork
3 – 3:15 p.m. |Break
3:15 – 4:00 p.m. |Audit reporting
4:00 – 4:30 p.m. |Construction fraud
4:30 |Wrap up
Information about CPE eligibility
There are no prerequisites for this workshop, and advance preparation is not required. There is no cost to attend this workshop.
CPE credit: Seven (7) hours total credit
Field of study: Auditing, Accounting
Please indicate on the registration form if you would like to receive eligible CPE credit for this webinar event. A certificate of completion will be e-mailed to you four to six weeks after the event.
For more information regarding administrative policies such as complaint and refund, please contact our offices at 608 240 2522.
Baker Tilly Virchow Krause, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.