Assurance services can help out in several different areas, including:
Are your subcontractor contracts reflecting fair risk allocation between the parties? Are they meeting the NZS3910:2013 Standard? We can review your project subcontractor files and make sure everything is correctly aligned.
Plant and vehicle rates
We can review your plant and vehicle rates to check that additional charges and margins aren’t being introduced – and make sure the plant and vehicles are being used as agreed. Are the rates you’re being charged correct or are you overpaying compared to what’s been agreed?
Payment approvals and bank reconciliations
You need robust controls over cash management and banking activities. Our team will review your policies and processes to highlight any weaknesses that could expose your organisation to fraud or overpayment.
Salary and wage rates
Are the correct salary and wage rates being charged to projects? We’ll review the proposed uplift percentage applied to employees’ base rates to ensure it covers paid time off as well as checking statutory on-costs, liabilities and no additional costs are being included. We can also review annual remuneration increases to ensure the correct rates have been calculated.
Time tracking software
Checking the ways time-tracking software is used can be time-consuming. We can review and assess if timesheet data is correctly being integrated into your financial system.
Internal auditing is an objective assurance and consulting activity designed to add value and improve an organisation’s operations. By outsourcing your internal audits, you can reduce costs and free up capital so your organisation can focus on your core business. With our extensive experience, we can delve deeper and deliver more by conducting specialist audits for particular areas in your organisation on an “as needed” basis.
Establishment audits for organisations entering cost-pLus contracts
We can review the methodologies and processes for costs being claimed align with the terms of the cost-plus contract. We will also confirm that the agreed margin fairly reflects actual overhead costs and business as usual profit levels.
Monthly claims for cost-plus contracts
We can review the monthly progress claims for payment and ensure they are being made in accordance with the contracts and agreements with a focus on cash neutrality for all parties. We’ll look for cost over-runs, ensure reimbursement of costs are project related and do not contain any margin, and the process is transparent to all parties.
Internal Audit and Assurance
Internal auditing helps you reduce risk, get objective assurance and take stock of your company’s situation. Our internal audit and assurance services include:
- Co-sourced or outsourced audit arrangements
- Internal control reviews, including documentation and testing of internal controls
- Audit and assurance over financial systems and processes
- Audit and assurance over non-financial (statement of service performance) systems and processes
- Sensitive expenditure audits
- Compliance reviews
- Review of controls at design phase of new financial systems
- Special review engagements and investigations into allegations of fraud, theft and corruption.
Talk to us today about how we can help improve your business with an internal audit.
Robust Risk Management processes allow organisations to manage their strategic, financial, operational and reputational risks, and assist organisations to achieve their objectives.
Our Risk Management Services include:
- Risk Management Framework, Policy and Process development
- Risk Management Framework rollout including setting up risk reporting
- Facilitating operational risk workshops and developing risk registers
- Train and upskill in-house Risk Champions
- Risk Register reviews
- Project Risk assessments and risk register development
- Assist with customisation of specialist Risk Management Software
Policy and Procedures Documentation
Our Policy Services cover a variety of requirements organisations need to consider when documenting areas such as Code of Conduct, fraud and corruption, receipting and banking, Protected Disclosures (whistleblowing), sensitive expenditure, business continuity, crisis and emergency management, and Internal Audit Charter.
Our Policy Services include:
- Internal financial and non-financial policies & procedures development
- Standard operating procedures development
- Independent reviews of internal policies
- Benchmarking to best practice