ACCT-14132 - USA (Austin, Texas) - External Construction Audit Services - Deadline June 14,2022

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: ACCT-14132

Government Authority located in Austin, Texas; USA based organization looking for expert vendor for external construction audit services.

[A] Budget: Looking for Proposal

[B] Scope of Service:

(1) Vendor needs to provide construction auditing services for construction manager at risk (CMR) and design-build delivery methods expenses to the government authority located in Austin, TX.
- Review the contractor’s method for computation of any construction cost to be reimbursed requiring prior approval by TFC if provided by the contract agreement.
- Determine whether the contractor’s charges for labor and labor burden, materials and equipment are in accordance with the terms of the contract agreement.
- Review to ensure that all specified bonds and insurance are actually purchased by the contractor for the specified amount as stated in the contract agreement.
- Obtain from the contractor copies of subcontractor agreements between the contractor and its respective subcontractors.
- Review of subcontractor status reports to determine change order activity by subcontractor.
- Review a sample of subcontract change orders for compliance with the contract.  
- Review the subcontractor’s current schedule of values and compare to what is billed on the owner payment application.
- Review of subcontracts for allowances and back charges.
- Assess documentation for status of lien waivers and final lien waivers.
- Review applications for payment and review the underlying documentation to determine whether amounts are reimbursable and reasonable in accordance with the terms of the contract.
- Review for any job-owned equipment to ensure that appropriate credit is received for all equipment purchased and charged to the job.
- Review a sample of change order requests submitted by the contractor and determine whether amounts are reimbursable in accordance with the terms of the contract.
- Analyze the contractor’s accounting for “allowance” and “contingency” items and verify that they have been incurred in accordance with the terms of the contract.
- Review of change orders, and that any planned specifications and/or quantities are reconciled.
- Select a sample of costs incurred by contractor and determine if there are any credits due from the contractor related to discounts, rebates, sales of surplus material, dividends, and refunds or any nature and determine whether the credits have been properly applied for the benefit of TFC.
- Reconcile the final contractor’s application and certificate for payment for selected line items to the contractor’s cost reports and schedule of construction costs incurred to date as submitted by the contractor.
- Review and assist in calculations of shared savings, when applicable.
- Written report summarizing the results of the reviews and conclusions related to the objectives of the construction audit services.
- Documentation such as analysis worksheets, document exhibits, and any other work performed to support conclusions.
- Provide a written report to TFC on finding of reviews and any potential costs recovery items.
(2) The contract period will be for three years.

[C] Eligibility:

- Onshore (USA ONLY);

[D] Work Performance:

Not Applicable

Expiry Date : Tuesday, 14 June, 2022

Category : Auditing, Finance and Accounting, Construction, Architecture, Interior Design, Landscaping and Other Related Services

Country : USA

State : Texas

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