CCA Audit Methodology and Procedures 1

Question 1

What is the first step in the construction audit process?

Accepted Answer

Audit planning

Answer

Field inspection

Answer

Issuing a final report

Answer

Reviewing contractor billing

Question 2

Which document is most useful for verifying the legitimacy of subcontractor charges?

Accepted Answer

Subcontract agreements

Answer

Blueprints

Answer

Daily site logs

Answer

Timesheets

Question 3

What is the primary purpose of conducting a walkthrough during an audit?

Accepted Answer

To observe and document workflows

Answer

To collect payments

Answer

To deliver change orders

Answer

To finalize project scope

Question 4

Which type of evidence provides the highest audit reliability?

Accepted Answer

External documentation

Answer

Verbal assurance

Answer

Internal memos

Answer

Emailed confirmations

Question 5

Sampling in audits is used for what main reason?

Accepted Answer

To save time while maintaining accuracy

Answer

To reduce objectivity

Answer

To avoid documenting results

Answer

To delay issuing findings

Question 6

What should an auditor do when identifying a potential overbilling?

Accepted Answer

Investigate and verify the discrepancy

Answer

Ignore it if it's minor

Answer

Immediately notify the media

Answer

Adjust it without documentation