Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. She goes through the basics of the financial analysis performed on the numbers and documents related to the construction project.
The construction analysis includes a comparison of the following numbers:
- Total expected cost of the project
- Actual work done on the project
- Funds requested by the contractor
- Funds received by the contractor
- Disbursement of funds by the contractor
Discrepancies in the amounts in each category must be investigated, as differences may be red flags of fraud.
