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Construction Audit Series - What you Need to Know when Auditing Construction Invoices

  • Accountant
  • CPA (CA)
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • IAP
  • QIAL
  • ACCA
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: July, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Here's your invite
    5 mins
  • Record and test
    24 mins
  • Calculate retainage
    39 mins
  • Audit reimbursables
    53 mins
  • Payments to subs
    73 mins
  • What party would be complete without a seance?
    87 mins

Course Description

This webinar is a part of the Construction Audit Series by Denise Cicchella!

US Bureau of Labour Statistics shows that as of January 2020, there were $7.59M people working in the construction industry. In addition, data from the Association of General Contractors of America shows that the construction industry has more than 600,000 employers in the US and creates nearly $1.3 trillion worth of structures each year. 

Construction is a risky business. Each construction project is unique and comes with its own set of challenges and opportunities. Identifying and managing construction project risks can be tricky, but not impossible with careful planning and execution.

Auditing a construction invoice can be difficult if you do not know the components and understand the formulas. This Discussion will include popular errors and frauds found over the years.

Auditing a construction invoice can be divided into three main parts:

  • During construction, precise checking & preparation of contractor's bills.
  • Post-construction bills audit as per drawings & physical verification at site reference to latest measurement codes.
  • Verification & checking of quality of construction after execution of projects through physical verification or certified laboratory or as per the requirement of the site/client.

Join this Online CPE Auditing Webinar to understand what you need to know when auditing construction invoices!

Learning Objectives

  • To discuss the anatomy of construction invoices.
  • To explain what is the RADIO process and how it works.
  • To analyze how a finding on an invoice carries through to the” true” overpayment or underpayment.
  • To discuss popular schemes when auditing labor.

Recommended For

  • The Online Continuing Education Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, and other auditing professionals who want to understand what you need to know when auditing construction invoices.
  • This CPE course is also helpful for CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CGAP, CGFM, MAFF, CTP, CFIRS, CWS, Fraud, and other professionals interested in learning more about auditing construction invoices.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Auditors
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Fraud Examiner
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 2 CPD Credit of Auditing for Chartered Professional Accountant (CPA Canada)
  • 2 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2 CPD Credit for CA - ICAEW
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPD Credit for Chartered Certified Accountants (ACCA)
  • 2 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2 CPD Credit for Chartered Accountants - Scotland
  • 2 CPD Credit for CPA - Ireland
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) 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.NASBARegistry.org.

Presenter

About Presenter

Denise Cicchella

Founder & CEO, Auspicium

Denise Cicchella is a recognized expert in construction audit, protecting owners from the overpayment of construction costs due to error, negligence or fraud.

Dense is a Certified Internal Auditor, Certified Fraud Examiner, Certified Construction Auditor, Project Management Professional and Fellow of the Life Management Institute. She holds an MBA in International Business from Fairleigh Dickinson University and a BBA in Accounting from Loyola University.  She is the Founding President of the New York/New Jersey Chapter of the National Association of Construction Auditors. She has audited and led audit teams for small construction project as well as multi billion dollar projects.

She is an experienced trainer and can often be seen teaching domestically and internationally.

About Company

Auspicium

www.auspicium.com

Auspicium was founded as a management consulting firm specializing in audit, real estate management, facilities management and Construction Audit and construction audit cost recovery. We specialize in consulting, fraud examination, risk assessment, and training. Our founder is a recognized leader in the field and has spoken for private companies as well as for The Instiute of Internal Auditors and the Association of Certified Fraud Examiners.

Faq

FAQs content

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Ratings and Review

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DK

David Klemm, CPA (US)

Aug 24th, 2022

covers the basics plus some

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