CONSTRUCTION AUDIT & COST CONTROL
Enhancing Project Transparency, Compliance, and Financial Accountability in Construction Management
Course Schedule
| Date | Venue | Fees |
|---|---|---|
| 03 – 07 Feb 2025 | Dubai, UAE | USD 3495 per delegate |
| 09 – 13 Nov 2025 | Doha, Qatar | USD 3495 per delegate |
Course Introduction
Construction projects are inherently complex, involving high-value contracts, multiple stakeholders, and tight deadlines. Effective audit and cost control mechanisms are essential to ensure that projects stay within budget, comply with regulations, and achieve intended results. Without robust controls, even well-managed projects are vulnerable to cost overruns, fraud, and inefficiencies.
This comprehensive 5-day course equips construction and project professionals with the skills and tools necessary to perform audits, evaluate controls, and manage costs effectively throughout the construction lifecycle. It covers best practices in procurement review, payment validation, risk mitigation, and performance reporting—ensuring construction project success from both financial and compliance perspectives.
Course Objectives
By the end of this course, participants will be able to:
• Understand the key components of construction auditing and project controls
• Identify and mitigate financial and operational risks in construction projects
• Develop and implement effective cost control strategies and budgets
• Conduct contract compliance audits and evaluate financial documentation
• Apply analytical tools for tracking progress, cost performance, and variances
Key Benefits of Attending
• Reduce risk of cost overruns, fraud, and financial mismanagement
• Ensure contract compliance and strengthen procurement oversight
• Improve budgeting accuracy and financial transparency
• Gain insights into global best practices in project audit and cost control
• Apply tools and techniques directly to live or upcoming construction projects
Intended Audience
This program is designed for:
• Construction project managers and engineers
• Project auditors and finance controllers
• Quantity surveyors and cost estimators
• Contract managers and procurement officers
• Internal auditors and risk professionals involved in construction
Individual Benefits
Key competencies that will be developed include:
• Financial literacy for construction project evaluation
• Ability to identify red flags in payment, procurement, and cost records
• Practical auditing and reporting skills
• Enhanced control over construction cost forecasting and analysis
• Stronger understanding of documentation and contract oversight
Organization Benefits
Upon completing the training course, participants will demonstrate:
• Greater accountability and financial discipline in project execution
• Stronger controls over procurement, invoicing, and budgeting
• Reduced project risk and improved audit readiness
• Improved alignment between project delivery and financial performance
• Enhanced reputation for governance and contract transparency
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
• Strategy Briefings – Key frameworks for cost control, audit, and risk management
• Case Studies – Real-world construction audit findings and cost recovery examples
• Workshops – Budget analysis, cost tracking, and audit planning exercises
• Peer Exchange – Group discussions on construction audit challenges and solutions
• Tools – Cost control templates, audit checklists, and performance dashboards
Course Outline
DETAILED 5-DAY COURSE OUTLINE
Training Hours: 07:30 AM – 03:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Fundamentals of Construction Audit and Cost Management
- Module 1: Introduction to Construction Audit Principles (07:30 – 09:30)
• Purpose and scope of construction audits
• Roles and responsibilities of auditors and project teams
• Key risks in construction projects - Module 2: Cost Control Basics and Lifecycle Overview (09:45 – 11:15)
• Cost estimation, budgeting, and forecasting
• Cost control across project phases
• Direct and indirect cost classification - Module 3: Risk-Based Audit Planning (11:30 – 01:00)
• Developing a construction audit plan
• Risk identification and prioritization
• Stakeholder engagement in audit process - Module 4: Workshop – Project Cost Risk Mapping (02:00 – 03:30)
• Mapping cost risks across lifecycle
• Prioritizing audit focus areas
• Group discussion and findings
Day 2: Procurement and Contract Compliance Auditing
- Module 1: Procurement Process and Cost Control (07:30 – 09:30)
• Tendering, bid evaluation, and vendor selection
• Procurement fraud risks and controls
• Price reasonableness assessments - Module 2: Contract Terms and Variance Tracking (09:45 – 11:15)
• Cost-plus, fixed-price, and unit-rate contract types
• Managing scope creep and variation orders
• Change order documentation and tracking - Module 3: Payment Review and Validation (11:30 – 01:00)
• Payment milestones and valuation methods
• Reviewing contractor invoices and supporting evidence
• Detection of duplicate or unsupported payments - Module 4: Workshop – Invoice Audit Simulation (02:00 – 03:30)
• Case-based review of sample invoices
• Identifying gaps, errors, and red flags
• Audit reporting and discussion
Day 3: Budget Performance and Financial Analysis
- Module 1: Budget Setup and Performance Metrics (07:30 – 09:30)
• Setting up a construction budget and cash flow projections
• Earned value management and budget-to-actual tracking
• Cost codes and structure setup - Module 2: Analyzing Cost Variances and Trends (09:45 – 11:15)
• Variance types: quantity, price, scope, and schedule
• Cost trend analysis and forecasting tools
• Using dashboards to visualize budget performance - Module 3: KPI Development and Cost Monitoring (11:30 – 01:00)
• Identifying and tracking construction cost KPIs
• Aligning reporting with project objectives
• Communication with stakeholders on performance - Module 4: Workshop – Cost Reporting Dashboard (02:00 – 03:30)
• Creating a basic reporting dashboard
• Peer feedback on reporting clarity and relevance
• Trainer review and summary
Day 4: Field Verification and Audit Documentation
- Module 1: Site Visits and Field Verification Techniques (07:30 – 09:30)
• Reconciling physical progress with reported status
• Documenting field observations and findings
• Integrating technical and financial assessments - Module 2: Supporting Documentation and Audit Trails (09:45 – 11:15)
• Source documents, approvals, and backup evidence
• Maintaining a complete audit trail
• Best practices for electronic records management - Module 3: Internal Controls in Project Environments (11:30 – 01:00)
• Internal controls specific to construction
• Fraud indicators in cost and progress reporting
• Corrective actions and control enhancement - Module 4: Workshop – Audit File Compilation (02:00 – 03:30)
• Organizing audit findings and evidence
• Writing audit observations
• Trainer-led debrief
Day 5: Reporting and Continuous Improvement
- Module 1: Audit Reporting and Communication (07:30 – 09:30)
• Audit report structure and writing techniques
• Presenting findings to senior management
• Constructive tone and recommendations - Module 2: Case Study Review – Audit Failures and Recoveries (09:45 – 11:15)
• Notable audit findings in major construction projects
• Financial recoveries and lessons learned
• Benchmarking audit success - Module 3: Implementing Corrective Actions and Lessons Learned (11:30 – 01:00)
• Creating and tracking action plans
• Feedback loops and continuous improvement
• Preventing recurrence of audit issues - Module 4: Final Wrap-Up and Certification (02:00 – 03:30)
• Participant reflections and action plans
• Course review and open Q&A
• Certification ceremony
Certification
Participants will receive a Certificate of Completion in Construction Audit & Cost Control, confirming their capability to monitor, assess, and manage financial and compliance performance throughout the construction project lifecycle.