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  • Writer's pictureJerry Ipsen, CFE, MBA

Services & Benefits

Fraud Prevention Program (2 Hours)

What the Fraud Prevention Program Includes:

· A jobsite visit followed by an inspection for safety, cleanliness, and organization

· Visibly noting machine hours and presence of equipment

· Speaking with onsite employees, subcontractors and material suppliers who are present and listening to their concerns

· Calls made to equipment and material suppliers making inquiries into billing processes and whether payments to them have been made in a timely manner

· Speaking with the GC regarding the process of applications for payment

The Benefits provided to owners…

· The GC, subcontractors and material suppliers will learn the owner has engaged the services of a Certified Fraud Examiner (CFE), and will be:

· Less likely to commit dishonest acts in the future

· Less likely to submit false billings regarding equipment

· Less likely to submit fraudulent labor claims

· Less likely to substitute materials of lesser quality

· The same subcontractors and material suppliers will understand the owner is taking a hands-on approach and can order a fraud examination or audit at anytime

Fraud Detection Examination (Hours TBD)

What I can do for you…


· Schedule out and reconcile the pay applications comparing them to the contract and to the job cost report

· Compare actual to budget on a line-item basis with the contract

· Track changes in the schedule of value and contingency account and get supporting documentation for those changes

· Compare change order signature dates to when the work was completed

· Take inventory of lien waivers

· Take an inventory of equipment and inventory (materials) left on site to what is expected

· Perform supplier confirmations of billings and payments

· Reconcile subcontractor bills to pay applications

· Make sure payment applications match work orders

· Request receipts for items billed by either the contractor or subcontractor

· Review the subcontractor bid selection process and documentation of selection

The Benefits provided to owners…

· Owners will know the strengths and weaknesses of the internal controls put in place and if the GC/Project Managers are adhering to the owner’s desires

· Those subject to a detailed fraud examination will likely cooperate, make good on balances owed or go away

· Owners will receive a detailed report citing strong points, deficiencies, and recommendations

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