During this recent audit of field labor rates, we identified overstated tax and insurance percentages and calculation. After correcting these items, we were able to reduce the field labor rates by an average of $5.00 per hour.
Cost Savings
The Importance of Financial Oversight in Construction
Construction projects involve many moving parts: from procurement and labor to materials and subcontracts. With so many variables, keeping an eye on budgets and expenses is crucial for preventing cost overruns and maintaining profitability. That’s where construction auditors come in. Their job goes beyond simply verifying the books—they ensure that every penny spent is accounted for and that financial resources are being allocated as efficiently as possible.
Six Commandments of Construction
After 20 years of auditing construction projects, we’ve found some rules to be true – we call them The Six Commandments of Construction: Never pretend to know more than you do. Always do your homework to know what you are buying (and selling). Know that you have...
Is It Time for a Service Agreements Review?
While most of our clients engage us to complete construction audits for one of their projects, we also help them with process improvements and assist them with contract creation and negotiations, and recently, we completed a review of annual service agreements for one...