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Expert Civil Latest Questions

Oliva Jones
Oliva Jones
Asked: December 6, 20222022-12-06T22:29:53+05:30 2022-12-06T22:29:53+05:30In: Others

How to do audit of construction company?

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    1. Vaibhav Verma
      Vaibhav Verma
      2022-12-07T12:30:21+05:30Added an answer on December 7, 2022 at 12:30 pm

      1. Analyze the company’s financial documents: Review the company’s income statements, balance sheets and cash flow statements to identify any discrepancies or inconsistencies. 2. Verify compliance with applicable laws and regulations: Make sure that the company is adhering to all construction laws aRead more

      1. Analyze the company’s financial documents: Review the company’s income statements, balance sheets and cash flow statements to identify any discrepancies or inconsistencies.

      2. Verify compliance with applicable laws and regulations: Make sure that the company is adhering to all construction laws and building codes in the area.

      3. Check for any notable accounting errors: Look for any errors in the accounting books that could affect the accuracy of the financial statements.

      4. Investigate internal controls: Examine the internal controls and procedures in place to ensure proper oversight of the company’s operations.

      5. Evaluate the company’s management: Assess the appropriateness of the company’s management and operational practices.

      6. Test financial records for accuracy: Perform tests on the financial records and documents to ensure the accuracy of the financial statement information.

      7. Review all contracts: Ensure that the construction contracts are compliant and in line with the company’s mission and goals.

      8. Examine the vendor relationships: assess the quality and scope of the company’s vendor relationships.

      9. Analyze inventory and asset management: Verify that all inventory and assets are appropriately managed, accounted for, and stored.

      10. Inspect health and safety measures: Observe and evaluate the company’s health and safety protocols.

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