Sterling is able to undertake Contractual and Project Management audits across a number of sectors engaging investigative skills and industry expertise with financial management.
Audits are beneficial at any time to ensure that projects are on course to deliver expected outcomes and to identify causes and remedies of any undesired outcomes – whether that is financial, quality or health and safety.
Where appropriate, such as where there are commercial sensitivities or potential malpractice, the audits are conducted with the utmost discretion and confidentiality.
An investigative audit will be comprehensive and identify the causes of any concerns and will recommend actions that will prevent future similar issues from happening.
Each audit is tailored to the client’s specific requirements and reflects the peculiarities of the industry and sector that the client works within.
To demonstrate Sterling’s expertise, what follows is a description of the approach we have taken in the Construction sector; in this example, the concern was unexpected financial losses on a very large multi-million pound project.
A small team comprising a senior investigator, quantity surveyor and accountant reviewed the practice of the extended project team against the established procedures and policies. This included estimating, tendering, procurement of labour and materials, and the management of subcontractors and their performance.
On this project it was discovered that the primary contribution to the losses was the hire payments of heavy plant and machinery which was never delivered or even necessary. What followed was a list of recommendations to prevent a possible re-occurrence and certain staff changes made.