Découvrez votre prochain livre préféré

Devenez membre aujourd'hui et lisez gratuitement pendant 30 jours
Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry

Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry

Lire l'aperçu

Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry

Longueur:
103 pages
1 heure
Sortie:
Jul 17, 2013
ISBN:
9781481799768
Format:
Livre

Description

The Author is a Chartered Surveyor and Arbitrator and has been in the Quantity Surveying field for the last 40 years.

The book deals with construction irregularities ,frauds and the necessity for Technical Auditing of construction projects.

The construction industry is huge expanding and expected to reach in excess of US $ 12 Trillion by 2020. The bulk of this amounts shall come from emerging markets and from public money.


Still Construction Auditing is practically performed by Accountants in all parts of the world. The Author feels that this should be done by Engineers with proper training and accreditation.Further,the Author feels that there is a necessity to spend at least one dollar for auditing for every thousand dollars spent to see whether the money is spent wisely.This is very important in case of public money.


The construction industry as a whole is infested with irregularities and frauds and so much so that the estimated loss is around 10%,which shall reach in excess of US $ one Trillion by 2020.To put in context, the combined GDPs of Saudi Arabia and South Africa.

If the existing internal and external auditing system does not bring in 0.5%(1/20 of the estimated waste) as savings on a regular basis,then it can be safely assumed that the system needs modifications or complete overhaul.


The book deals with basic guide lines for Technical Auditing of construction to bring in savings.This also gives a set of proposals for future improvements of the existing system and the same can be used in developing counries or modified to suit each countrys requirements.
Sortie:
Jul 17, 2013
ISBN:
9781481799768
Format:
Livre

À propos de l'auteur

The Author is a Chartered Quantity Surveyor, Arbitrator and has been working as Quantity Surveyor for Dubai Municipality since 1999. Having been working for a premier Government Institution dealing with construction projects, handled projects of various sizes. The Author has a rare mixture of Technical Qualifications coupled with long years of experience in the field and in teaching is in an unique position and ability to understand both the need of the Industry and the students. Email : almameer@hotmail.com Tel: + (971)04- 2064558 + (971) /04 -2341303, + (971) -056-7650085 Website : www.almameer.com

Lié à Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry

Livres associé
Articles associés

Catégories liées

Aperçu du livre

Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry - A.L.M. Ameer

©

2013 by A.L.M. Ameer MRICS, AAIQS, ACIArb. All rights reserved.

No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

Published by AuthorHouse 07/10/2013

ISBN: 978-1-4817-9975-1 (sc)

ISBN: 978-1-4817-9974-4 (hc)

ISBN: 978-1-4817-9976-8 (e)

Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Thinkstock.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Contents

1.   CONSTRUCTION IRREGULARITIES

1.2   OUT-SMARTING BY CONTRACTOR

1.3   OUT-SMARTING BY CONSULTANT/EMPLOYER

1.4   OUT-SMARTING BY CONSULTANT/CONTRACTOR

1.5   CHECK LIST

2.   CONSTRUCTION FRAUDS

2.1   Types of Contract Frauds

2.2   Non-Technical Frauds

3.   TECHNICAL AUDITING OF CONSTRUCTION

3.1   INTRODUCTION

3.2   WHY TECHNICAL AUDITING IS REQUIRED

3.3   SCOPE OF TECHNICAL AUDITING

3.4   TECHNICAL AUDITING PROTOCOL

3.5.1   AUDITING PROTOCOL—ANNEXURE ONE

3.5.2   AUDITING PROTOCOL—ANNEXURE TWO

3.5.3   AUDITING PROTOCOL-ANNEXURE THREE—RECOMMENDED PRACTICE

3.5.4   AUDITING PROTOCOL-ANNEXURE FOUR—RECOMMENDED PRACTICE

3.5.5   AUDITING PROTOCOL—ANNEXURE FIVE—RECOMMENDED PRACTICE

3.6   TYPICAL WORK ACTIVITIES OF A TECHNICAL AUDITOR

3.7   ROLES OF THE ENGINEERING INSTITUTIONS

3.7.1   MODEL COURSE FOR TECHNICAL AUDITORS

3.8   CONCLUSION

4.   PROFILE OF THE AUTHOR

1

CONSTRUCTION IRREGULARITIES

Construction Industry is huge and is growing practically in every country in the world. Professionals who are involved in the construction industry have a professional responsibility to give the necessary confidence the industry needs.

Like in any other works, there are lot of irregularities taking place in construction. These irregularities do cost money and time to the owners, be it an individual Client, who is building up a house to himself to that of a multi-million dollar investor doing a mega project. The only difference is the amounts which are lost in construction. There is no definition for irregularities, but what is not regular is considered to be irregular. There is a thin line between irregularities and frauds. A professional has to do a job, for which he is paid for. If you ask a layman about his construction of a small house, he will give you a lecture on the problems, the losses and other difficulties he had. The case is same, if it is a major project. The only difference is the amount of loss which is small for a small Contract, and much bigger running into millions of Dollars for a major project.

Some recent findings are given below to indicate the level of irregularities in the construction field that are happening worldwide on a regular basis.

China has investigated and handled more than 21,000 cases of irregularities in construction projects in 2009.Among the 21,766 cases, 3,305 or 15.2%, is occurring during the bidding process. The result indicated corruption in this sector includes interfering with the bidding process, insider trading and cheating. The report urged all relevant departments to carry out further investigation to crack down on irregularities in accordance with the relevant laws and cadres who misuse authority and interfere with the bidding process should be severely dealt with.

Another report by a central office in charge of the cleanup said more than 15,000 Chinese officials have been punished for graft or dereliction of duty over the two years (2009-2011) during a nationwide check against irregularities in the construction sectors, The situation to say the least is frightening as according to certain reports, China will be the leading construction market by 2018.By 2020, the construction market in China is worth around US $ 2.5 trillion which is about 19% of the global construction output.

A private newspaper in Bhutan-the Bhutanese says at least 50%of Nu.435 million that was spent on the construction of the three domestic airports in the country have been lost in illegal over—payment or have been wasted through avoidable expenditure.

A report indicated that the European Union has frozen Euro 890 million in aids earmarked for building Polish roads because of suspected frauds by contractors, according to the commission appointed for same. The suspension, which is likely to be only temporary, comes at an awkward time for the Polish government, which is already dealing with a sharp economic slowdown and thousands of layoffs in the construction industry.

Polish officials said they were doing everything they could to root out the suspected fraud.

The commission said it acted after Poland launched a criminal investigation into allegations that there was a price-fixing cartel involving companies bidding for road building contracts.

African countries are full of construction irregularities. Even developed countries such as the United Kingdom and the United States are not immune to irregularities in construction.

One fails to understand how such things are possible in government funded construction projects, where there is an Auditing Department with wide powers for the Auditor General. It should be also noted that, there are double auditing (internal & external) for government funded projects. Sad to say, it is happening and continues to happen. The author feels that Technical Auditing with proper guide lines and by competent Engineer Technical Auditors may solve this problem to a great extent.

The Construction professionals should be aware of their job regarding all aspects of construction. They should treat every case separately as everyone is unique and important to the Employer, not just another case in their long career. There should be a continuous learning process for the Engineers. We hear cases, where construction started without proper understanding of the scope leading to changes, which cost time and money, The Government Service Authority regulations shall be the reasons for delay and eventual late completion. All construction professionals to have check lists, a basic of which is given under sub heading 1.5 Check List, to make the project reasonably good and finished within time and budget.

It is a necessity for the contractors to remember the importance of documentation such as contracts, pricing, backups, correspondence etc. as at the end of the day contractors shall be in a position to lose lot of money as they are unable to claim owing to the lack of proper documentations, for

Vous avez atteint la fin de cet aperçu. Inscrivez-vous pour en savoir plus !
Page 1 sur 1

Avis

Ce que les gens pensent de Irregularities, Frauds and the Necessity of Technical Auditing in Construction Industry

0
0 évaluations / 0 Avis
Qu'avez-vous pensé ?
Évaluation : 0 sur 5 étoiles

Avis des lecteurs