Shabbir Tamboli & Co.

Construction Audit Services

Construction projects are generally among the largest, most complex financial
expenditures undertaken by an organization. For this reason, its important that
an organization have adequate project management and appropriate internal
controls designed for the specific type of construction agreement in place during
the entire project life cycle. Strong internal controls are necessary to:

Ensure procedures are in place to identify and manage risks

Prevent overpayments and protect against irregularities
Establish supporting financial reporting processes
Avoid unnecessary litigation

Shabbir Tamboli & Co. helps you strengthen the financial and operational controls
over the construction process, ensuring compliance with the contract and
adherence to industry standards and best practices. Our experienced teams
provide assurance that contractual terms are being adhered to by validating
critical contractor compliance and costs. In our experience, potential identified
overcharges are typically 5 to 10 times greater than the fee for our services.
Our specialized team of construction professionals will also provide you with
root cause analysis and process improvement recommendations, resulting in a
more efficient and effective construction program.
Shabbir Tamboli & Co. provides construction services for domestic projects and
for all three phases of the project life cycle:
Planning and Pre-construction Services
During this phase, HK can help negotiate favourable contracts and identify
critical tasks for your project team. We can also review and evaluate proposals
and the contract award process.
Construction Services
During construction, our professionals will examine contractor records to ensure
the contractor is complying with the specific contract terms. We can also review
the budget, schedule and the owners construction in progress account to
verify accuracy.
Project Closeout Services
Closeout audits are highly recommended to ensure the contractors final billing is
accurate and that all lien waivers, warranties and other final deliverables, such
as the as-built drawings, have been obtained.
Specialized construction auditing knowledge and expertise

Managing the financial and risk aspects of a major construction-related capital

project requires unique knowledge and expertise. We have what it takes. We
know the construction industry ins and outs, including all types of construction
contracts from fixed price, guaranteed maximum price, stipulated sum, cost-plus
reimbursable, time-and-material to unit price contracts.
A construction audit is a highly complex process - it requires more than reviewing
and auditing to a checklist. It requires the uncommon knowledge and expertise
of seasoned professionals to efficiently and effectively identify and resolve the
high-risk areas in your construction project .
You can relax knowing experienced HK construction audit professionals are
protecting your interests. In addition to advanced degrees, they hold numerous
certifications such as Certified Public Accountant, Certified Internal Auditor and
Certified Fraud Examiner.
What are the benefits of Shabbir Tamboli & Co.s Construction Services?
We add value specifically in the following five areas:
Identifying overcharges and undercharges When our services are not
used during the planning stage, we are typically able to identify
overcharges of between one and two percent of the project cost.
Cost avoidance HK can help you negotiate a favourable contract,
identifying critical tasks for your internal team. Our involvement during
the planning stage can result in more savings than if we perform a standalone, close-out audit.
Identifying and managing risks We identify and prioritize risks, and
provide recommendations for managing those risks.
Developing and maintaining financial controls We establish policies and
procedures to monitor both owner and contractor controls.
Avoiding litigation We help you avoid the time-consuming and costly
litigation process, since well-managed and controlled projects result in
fewer conflicts.