Ensure compliance with the terms of your leasing and management contracts with our Building Contract Audit Work Program. This tool is an essential resource for strengthening oversight and compliance in property management and leasing contracts. It provides a structured approach to auditing building contracts, focusing on financial integrity, asset protection and operational controls. The program outlines clear objectives and a comprehensive scope and guides users through the process of examining contract compliance, verifying the accuracy of financial records, and evaluating the effectiveness of internal controls. The work program includes detailed steps for information gathering, analytical review and targeted testing of key financial areas such as cash accounts, accounts receivable, property and equipment, other assets, liabilities, and expenses.

Included in the tool are practical instructions for reviewing documents, reconciling accounts, and investigating discrepancies. This document emphasizes the importance of independent verification and reconciliation, ensuring that all transactions are appropriately authorized and recorded. By following the sample audit steps provided, you can identify potential risks, improve financial accuracy, and enhance the reliability of their building management operations.

Key Takeaways:

• Comprehensive Coverage: All major financial and operational aspects of building contract audits are addressed.
• Actionable Audit Steps: Step-by-step procedures for effective document review and testing are provided.
• Risk Mitigation: Compliance gaps and financial irregularities are uncovered.
• Sample-Driven Guidance: Four real-world samples to illustrate best practices are offered.