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…
PERFORM SPECIFIC FRAUD RELATED TESTS SUCH AS:
· 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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