When it occurs, construction bid rigging can drastically increase an organization's construction costs.
Dallas, Texas (PRWEB) February 25, 2013
The Construction Audit and Cost Control Institute is encouraging construction project owners to take proactive measures to detect and prevent bid rigging that may impact their construction costs.
Construction owners can protect themselves by rigorously examining their records looking for common indicators of bid rigging. Tracking their contractors’ litigation history may also be helpful in identifying potential bid rigging. Fraud hotlines properly communicated to contractor personnel have proved to be helpful in bringing construction bid rigging and other fraudulent activity to light. Interviewing unsuccessful bidders on a selective basis is a technique that can be useful in identifying potential bid rigging situations.
The following news headlines and internet postings describe some recent construction related bid rigging cases and the related efforts to deter this activity:
(1) FBI probes $1 million bid-rigging at UTSA (San Antonio Express/2-21-2013)
(2) Ex-Montreal construction boss describes bid rigging system (CBC News/11-27-2012)
(3) Bid rigging in the construction industry in England (Office of Fair Trading/No. CE/4327-04)
(4) South Africa bid-rigging probe at advanced stage (IOL News/2-11-2013)
Bid rigging and other construction related fraud activity will be discussed in detail at the following construction audit and construction fraud seminars that will be held March 26-27, 2013 at the Bellagio in Las Vegas.
2 day Seminar - "Construction Fraud: Detection, Prevention & Response"
This construction fraud seminar provides valuable insight into current construction fraud cases and provides very specific fraud detection and prevention recommendations.
Attendees will learn how corruption can impact construction projects from start to finish. Cases involving bribes, kickbacks, conflicts of interest, performance issues, bid-rigging, price fixing, and predatory billing practices will be analyzed.
This course raises construction fraud awareness, provides practical analytical tools, and valuable ideas on recommended approaches to use when responding to suspected fraud.
2 day Seminar - "Effective Auditing of Construction Activity"
This two-day seminar provides auditors with insight on how to partner with their management teams to conduct effective audits of their organization’s construction activity.
Specific “how-to” construction audit techniques and other industry specific information will enhance attendees’ ability to audit for potential fraudulent activity, and to identify significant potential cost avoidance or cost recovery audit findings.
The Construction Audit and Cost Control Institute (CAACCI) has been providing public offering and in-house professional development training seminars in affiliation with Courtenay Thompson & Associates since 2008. The principal instructors (Courtenay Thompson and Rich Townsend) have been providing construction audit and fraud professional development training to management and auditors for over 20 years. The majority of CAACCI's public offering seminar participants come from the United States and Canada. Other recent international attendees have included individuals from Abu Dhabi, Saudi Arabia, Mexico, and Brazil.
For more information on these seminars which will be presented March 26-27,2013 at the Bellagio in Las Vegas please visit: http://www.caacci.org