Mitigate the risks of construction fraud and reduce the financial losses stemming from construction fraud.
Recent statistics indicate that construction fraud is as high as 10 percent of total construction revenues annually. This would mean that fraud costs the construction industry more than $100B in the U.S. each year. Given the fast-paced nature of most construction projects, identifying and preventing fraud can be extremely challenging. Project controls, record keeping, and due diligence reviews can sometimes fall by the way side as parties scramble to complete projects on time and on budget, thereby making construction projects susceptible to fraud. This topic helps construction industry professionals understand the risks associated with construction fraud as well as some of the more common types of fraud found within the construction industry. The topic will also help you identify potential signs that fraud is occurring and procedures that can help reduce the risks of fraud. While eliminating construction fraud entirely is unlikely, this topic is essential for construction professionals to mitigate the risks of construction fraud and consequently help reduce the financial losses stemming from construction fraud.
Agenda
Faculty
Kimberly R. Reome
Kenrich Group LLC
- Vice president and secretary in the Chicago office of The Kenrich Group LLC
- Financial damages litigation consultant, specializing in construction and electric power industries
- More than 25 years of experience in damages analysis with an emphasis on analysis of increased costs, critical path schedule analysis, productivity and lost profits analysis
- Provided expert deposition and trial testimony and reports, in civil courts and arbitrations
- M.B.A. degree, Northwestern University Kellogg Graduate School of Management; Bachelor's degree, in finance, Michigan State University Honors College
- Certified Fraud Examiner
- Can be contacted at [email protected]
Sashi Mahtani
Kenrich Group LLC
- Principal at The Kenrich Group LLC
- More than 15 years of experience in the investigation and resolution of business disputes, primarily related to the construction and government contract industries
- Experience includes, (1) investigating allegations of construction fraud; (2) analyzing the reasonableness of construction cost estimates, bid documents, change orders, schedules, invoices, accounting records, and other construction records; and (3) reviewing and providing recommendations for improving project controls on behalf of owners and contractors
- Certified Fraud Examiner (CFE); Certified Cost Professional (CCP)
- Other professional associations: Association for the Advancement of Cost Engineering (AACE); Chicago Building Congress – member; Legal Assistance Foundation of Metropolitan Chicago (LAF) – Young Professionals Board member
- B.S. degree, Civil Engineering, University Of Illinois at Urbana-Champaign
- Can be contacted at [email protected]
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