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Construction Resources at PenndividerPenn's Confidential Reporting and Help Line: 215-P-COMPLY
    
Types of Construction Audits
 

Project Specific Audits - During the risk assessment process capital construction projects are identified as potential audit clients. Key areas reviewed to determine the effectiveness and opportunity for an audit are as follows:
 

• Budget Value
• Relationship with Contractor

 • Contract Type
• Visibility of Project
 

Process Audit - Internal controls are added by management during the design of a business process. In order to ensure that efficient and effective processing, systems should be periodically reviewed to determine the controls are minimizing business risks. Technology enhancements and turnover in personnel can also lead to a breakdown in internal controls and may provide an opportunity to restructure. Typical processes reviewed include:
 

• Bidding Process
• Funding Process
• Grant Compliance/Reporting

 • Financial Reporting Process
• Internal Policy Compliance
  Monitoring and Awareness - In order to understand the dynamic capital construction activity, and the impact beyond pure construction activity, OACP attends cross-functional meetings to stay current with topics throughout Facilities and Real Estate Services. Sample meetings include:
 

• Capital Advisory Group
• Cost to Budget Reviews
• Economic Inclusion

• Monthly Real Estate Development & Planning
• System Implementation

 

 
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