Upcoming Construction Audit and Transition Management Training Coming to the West Coast

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Auditing construction projects can be a drain on resources or may be beyond the expertise of your staff. Auspicium can change all that on November 14 and 15th at the Union Square Hilton in San Francisco, CA.

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In my 23 years in auditing, I’ve never worked with anyone who is so knowledgeable, but so incredibly fun at the same time. Denise is flexible, easy to work with, and she has the utmost level of integrity. I would strongly recommend Auspicium to anyone!

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Auspicium is bringing Construction Audit and Transition Management to the west coast!

Denise Cicchella, a highly recognized industry leader and President for Auspicium will present topics over the two-day period that will enable students to bring immediate value back to their organizations. Denise is the author of the Institute of Internal Auditor’s Handbook: Construction Audit Guide: Overview, Monitoring and Auditing.

She has taught construction audit around the world and now brings it to the west coast.

Auspicium made the decision to take the course to the west coast when it was noted that there was an uptick in west coast companies moving locations into the city areas. Couple that with some of the major projects that can be seen going on in the area: Bay Bridge, San Francisco subway, Camp Pendleton Naval hospital, L.A light rail, Fowler Park and others.

In this course, which is eligible for 16 CPE Credits, students will be introduced to proven strategies and techniques that organizations can use to enhance controls over their current projects. Attendees will learn risk avoidance techniques that they can use to help protect their projects and ensure success is achieved.

So what makes a successful project? The answer depends on the organization overall strategy and the project’s mission. In Auspicium’s course, students will learn what the factors of success are, what tools are available to control these factors, what risks each possesses, how these risks are interrelated and most importantly how to audit these factors after they have been prioritized. Auspicium has built a Construction Audit Risk Evaluation – CARE ® methodology based on the pillars of these success factors. Attendees will learn about Construction Audit Risk Evaluation – CARE ® and how they can apply it to their audits and projects.

One major area of success is cost. In a poorly controlled environment, errors and fraud may occur; if not corrected they may be repeated. Traditionally a construction audit can uncover 1-3% of construction costs – even if the contract is a fixed price contract. Where does this 1-3% come from? It can be poor governance and reporting, change orders, over reliance on vendors, or over reliance on project management. By attending this course, auditors will learn valuable skills that they can use to audit construction projects in their organizations; many of these skills can be carried forward into other audit assignments as well.

Attendees will learn how to identify common areas of fraud and abuse and how to roll that forward into their audit strategies. Auspicium offers practical and workable solutions to ensure that projects are monitored for and that costs are accurate.

Often during a construction audit, an auditor can get lost in lingo that they are not familiar with. Auspicium will help battle this obstacle by discussing common terminology in class. In addition, all attendees will be given terminology guides that they can use to enable them to more efficiently communicate with the construction professionals on the project.

Change orders are another common area for fraud and abuse. Change order abuse can lead to significant problems for various areas of the organization: project management, facilities, and treasury management. Additionally, other projects may have to be postponed or delayed as rising costs on projects prejudice availability of funds.

Attendees will be walked through 42 identified processes in the Capital Project work cycle and will learn how they can have an impact on all areas.

Interested attendees may find out more information or enroll at http://www.auspicium.com/Training/courses.html.

Auspicium is a boutique consulting firm specializing in construction audit services and training. All courses are eligible for NASBA CPE hours. Auspicium offers all courses as private and public. Auspicium works with clients of all sizes to tailor training solutions that work for audit teams – whether it be pure training, training plus consulting services, training plus advisory services, etc.

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Denise Cicchella
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