BOOK REVIEW! The Practitioner's Blueprint to Construction Auditing
On the surface the construction industry would appear as though it would be easy to understand. But taking apart and understanding all of the design, engineering and construction disciplines and putting them together can be a formidable task.
In The IIA's latest publication The Practitioner's Blueprint to Construction Auditing, CFIIA Chapter member Ron Risner breaks down the design, engineering and construction disciplines into easily understandable components that can assist both audit and construction practitioners understand the process and cost controls that are needed on any construction project from beginning to project closeout. In the book,
Risner explains in layman's language construction risks, how to mitigate the risks, and what controls, processes, procedures and policies that can be used in regard to each discipline. Finally, with each discipline Risner helps you to tailor an audit program that fits your organization's capital expenditure project regardless of the type of industry you may work in. And, expect to be surprised with several construction related best practices that will help your organization mange the paperwork more effectively and control costs more efficiently.
Don't be overbilled by contractors, subcontractors, vendors, consultants, architects or other design or construction professionals. After all, Risner estimates that up to 3% of a project is overbilled on every major commercial, industrial, multi use or governmental project.
The book explains how these overbillings occur and how auditors can play a significant role in isolating overbillings whether your organization is undergoing a one-time project or has a long term ongoing capital expansion program.