Those attending will be exposed the four legal requirements necessary to form a contract, then expand to advanced areas of contract law and auditing. In this high-impact program you will gain the confidence and know-how you need to assume a proactive role in your organization’s contract audits. You will learn how to audit three main types of contracts: lump-sum, unit-price/rate, and cost-plus. You will discover how to apply the appropriate model to critical contract and large project audits, including supply, professional services, joint venture, catering and subsistence, utility, and others. You will identify high-risk contract areas and explore ways Audit can play an important role in the contracting process before money has even been spent. You will learn specific techniques that contractors and vendors use to inflate charges, and find out how to recover overcharges. Attend this information-packed session to learn how to boost the bottom line when your organization signs on the dotted line.
This comprehensive program explores how auditors can identify contract-related problems and help management address the challenges of contracting in today's world. It also explores the challenges contracting presents and how auditors can help management address those challenges in today's world. Some well-established contract audit functions recover more than the cost of the entire audit department by identifying overcharges, performance issues and revenues not collected. Perhaps even more important are the lessons learned that lead to improvement in contract management practices. This revolutionary course provides beliefs, knowledge, skills and techniques auditors can use to recover costs, enhance revenues and help their organizations better administer and manage contracts. The course presentation draws heavily on techniques and approaches in establishing and managing a contract audit program, providing a practical assessment of the challenges and opportunities in contract auditing.

Those attending will be exposed the four legal requirements necessary to form a contract, then expand to advanced areas of contract law and auditing. In this high-impact program you will gain the confidence and know-how you need to assume a proactive role in your organization’s contract audits. You will learn how to audit three main types of contracts: lump-sum, unit-price/rate, and cost-plus. You will discover how to apply the appropriate model to critical contract and large project audits, including supply, professional services, joint venture, catering and subsistence, utility, and others. You will identify high-risk contract areas and explore ways Audit can play an important role in the contracting process before money has even been spent. You will learn specific techniques that contractors and vendors use to inflate charges, and find out how to recover overcharges. Attend this information-packed session to learn how to boost the bottom line when your organization signs on the dotted line.
This comprehensive program explores how auditors can identify contract-related problems and help management address the challenges of contracting in today's world. It also explores the challenges contracting presents and how auditors can help management address those challenges in today's world. Some well-established contract audit functions recover more than the cost of the entire audit department by identifying overcharges, performance issues and revenues not collected. Perhaps even more important are the lessons learned that lead to improvement in contract management practices. This revolutionary course provides beliefs, knowledge, skills and techniques auditors can use to recover costs, enhance revenues and help their organizations better administer and manage contracts. The course presentation draws heavily on techniques and approaches in establishing and managing a contract audit program, providing a practical assessment of the challenges and opportunities in contract auditing.

Audit Team Leaders, Senior & Chief Auditors, Audit Managers, Managers and Superintends, Auditors who need to audit projects, contracts or technical business areas, Assurance professionals who need to assess technical issues, Assurance providers who need a greater understanding of Corporate Governance, Audit staff preparing to engage in a contract audit, Audit managers planning to perform an audit of contracts, Chief Audit Executives interested in developing a meaningful audit of contracts within their organization, Non-audit managers and Project Managers interested in enhancing their understanding of contracts.

• Introduction to Auditing Contracts
• Common Contracts
• Audit’s Role in the Contract Process
• Contract Auditing Objectives
• Developing an Understanding of Contract Exposures and Opportunities
• Fundamentals of Contract Auditing
• Approaches to Auditing Costs
• Best Practices
• Risk Assessment and Contract Risks
• The Contract Audit Approach
• Auditing Contract and Construction Administration
• Large Cost Recovery Areas
• Auditing Supply Contracts and Purchase Orders
• Auditing Professional Service Contracts
• Auditing Joint Venture Controls
• Auditing Catering and Subsistence Contracts
• Utility Audits
• Contract Auditing and the Auditor
• The Contract Auditor’s Toolkit
• Fraud Implications of Contract Auditing
• Contract Components
• Planning the Audit of Contracts
• Selecting Audit Samples of Contracts
• High Impact Reporting

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