Project Cost Audits (OnDemand Webinar)

$219.00

SKU: 407182EAU

Description

Learn best practices of project cost audits and how to properly report findings for ongoing commercial or litigation purposes.Project cost audits are a unique service that utilizes cost theory, contractual requirements, fraud sensitivities, and IT skills along with a technical understanding of the project scope. The audits often involve millions if not billions of dollars and the findings of agreed or disagreed costs directly impact the cash position of the respective stakeholders i.e., it is a zerosum game. As a service for internal or external auditors, the results to clients are often significant and beyond the service cost of the audit, yet common sampling and auditing techniques are not always effective. You will be able to identify project audit assignments, effectively perform project cost audits, identify and apply best practices to the benefit of the project team, and properly report findings for ongoing commercial or litigation purposes.

Date: 2020-03-25 Start Time: End Time:

Learning Objectives

Overview
• Definition of a Project
• What Makes Project Auditing Unique?
• Applicable Professional Standards

Understanding the Project
• Stakeholder Expectations and Needs
• Project Technical Definition
• The Contract/Agreement

Understanding Project Cost Accounting
• It Systems and Controls
• Internal Accounting Procedures and Controls
• Project Scope Controls
• Project Billing Procedures
• Pre-Audit Review

Performing the Audit and Audit Efficiency
• Evaluation of Control Weaknesses
• Performing Effective Sampling
• Addressing the 7 Most Common Cost Issues
• Survey Techniques for Less Common Items

Writing the Audit Report
• Disclosure of the Objectives and Process
• Scope Limitations
• Stating the Results
• Documentation
• Conclusions
• Recommendations

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,ENG ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Dennis L. Allen, CPA, CFE, CCA-FACX Global