Auditing contract revenue can be challenging. Long-term contracts can be even more difficult. You'll gain the knowledge necessary to conduct a successful audit of contracts.
DESIGNED FOR
Practitioners, accountants, and financial professionals in the construction industry
BENEFITS
- Identify key risk areas in contractor contracts and the audit procedures used to address them.
- Recall the considerations of applying risk assessment procedures specifically in the audit of construction contractors.
- Recall the common three phases of contract review during audit planning.
- Identify other preliminary procedures and areas of concern common to an audit of a construction contractor.
- Identify the five key components of the contractor’s audit model.
- Recall the common audit procedures to test each of the five key components of the contractor’s audit model.
- Identify specific controls that are effective in mitigating the significant risks present in the construction industry.
HIGHLIGHTS
Auditing contractor accounting and revenue from contracts with customers
Planning and risk assessment for construction contractors
Key controls
Substantive procedures for long-term contractorsPREREQUISITES
None