TECHNICAL AUDITING is where a thorough evaluation and validation of the technical compliance of a project’s DOCUMENTATION, WORK PROCESSES, and WORK-IN-PLACE is conducted. This is done within the framework of Value for Money, which means that the aim is to get the highest possible value for the money spent.
When conducting an audit of a construction project, there are several common surprises or challenges that auditors may encounter such as:
Non-compliance with regulations: Auditors may uncover instances where the construction project has not adhered to relevant building codes, safety regulations, or environmental standards. This can result in additional costs to rectify non-compliant work.
Quality issues: The audit may reveal deficiencies in the quality of construction work or materials used. This could include improper installation, substandard materials, or deviations from approved plans and specifications.
Inadequate documentation: Auditors often encounter challenges when project documentation is incomplete or poorly organized. This can make it difficult to track project progress, verify expenses, or evaluate compliance with contractual requirements.
Change order discrepancies: Change orders are common in construction projects, but auditors may discover discrepancies between the approved change orders and the actual work performed or costs incurred.
Insufficient risk management: Auditors may identify gaps in the project’s risk management practices, such as inadequate insurance coverage, insufficient contingency plans, or failure to address potential risks and mitigate their impact. It’s important to note that every construction project is unique, and the surprises encountered during an audit can vary. These examples serve as a starting point, but the specific surprises you encounter will depend on the project’s COMPLEXITY, SIZE, and other factors.
