Subcontractor Bidding Process: Contract Controls and Auditing

Thursday, June 20, 2024 12:00 PM - 1:00 PM

The majority of the incurred costs in a construction project is for work subcontracted out to the trades.  As a result, the subcontractor bidding process is often an area of significant focus on construction audits. 
A general understanding of trade contracting is necessary to identify areas for review and testing.  This presentation will cover an introduction to the trade contracting process, how the trade scopes of work are developed, why auditing this process is beneficial, and awareness of issues of concern.

After attending this webinar, participants will be able to…
1. Identify the support documents necessary for auditing the subcontractor selection process.
2. Develop an understanding of intent of the bid scoping process and associated adjustments.
3. Evaluate bid scoping documents to identify possible conflicts with selection of best cost and/or qualifications.

Field of Study: Auditing
Advance Preparation: None
Prerequisites: None
Cost: Free for members; $25 for non-members
Number of Credits: 1 Credit.

Presentation Slides