Show navigation

Available in:

OnDemand Course
MP3 Download

Project Cost Audits

Learn best practices of project cost audits and how to properly report findings for ongoing commercial or litigation purposes.

Project cost audits are a unique service that utilizes cost theory, contractual requirements, fraud sensitivities, and IT skills along with a technical understanding of the project scope. The audits often involve millions if not billions of dollars and the findings of agreed or disagreed costs directly impact the cash position of the respective stakeholders i.e., it is a zero-sum game. As a service for internal or external auditors, the results to clients are often significant and beyond the service cost of the audit, yet common sampling and auditing techniques are not always effective. You will be able to identify project audit assignments, effectively perform project cost audits, identify and apply best practices to the benefit of the project team, and properly report findings for ongoing commercial or litigation purposes.

Runtime: 85 minutes
Purchase Options

More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Definition of a Project
  • What Makes Project Auditing Unique?
  • Applicable Professional Standards

Understanding the Project

  • Stakeholder Expectations and Needs
  • Project Technical Definition
  • The Contract/Agreement

Understanding Project Cost Accounting

  • It Systems and Controls
  • Internal Accounting Procedures and Controls
  • Project Scope Controls
  • Project Billing Procedures
  • Pre-Audit Review

Performing the Audit and Audit Efficiency

  • Evaluation of Control Weaknesses
  • Performing Effective Sampling
  • Addressing the 7 Most Common Cost Issues
  • Survey Techniques for Less Common Items

Writing the Audit Report

  • Disclosure of the Objectives and Process
  • Scope Limitations
  • Stating the Results
  • Documentation
  • Conclusions
  • Recommendations
Purchase Options

More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on March 25, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Dennis L. Allen, CPA, CFE, CCA

Dennis L. Allen, CPA, CFE, CCA

FACX Global

  • Founder of FACX-Global
  • Over 40 years of experience in project cost audits, dispute resolution of contract and cost related issues, and government contract disputes including both domestic and international million and billion dollar projects
  • Conducts seminars and lectures on project cost audits, audit objectivity, project management, change order management, and construction contracts
  • Certified Public Accountant, Certified Fraud Examiner, Certified Construction Auditor with memberships in the associated professional organizations
  • B.A. degree in business administration, Texas Tech University
  • Can be contacted at [email protected] or 301-606-7998
Purchase Options

More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 407182
Published 2020
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!