Assurance services can help out in several different areas, including:
ESTABLISHMENT AUDITS FOR ORGANISATIONS ENTERING ALLIANCES AND COST REIMBURSABLE AGREEMENTS
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 ALLIANCES AND COST REIMBURSABLE AGREEMENTS
We can review the monthly progress claims for payments and ensure they are being made in accordance with the 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.
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.
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?
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.
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.