#ProjectAccountability Archives - Knowledge Base

What is the purpose of a statutory audit for construction projects?

Statutory Audit for Construction Projects The purpose of a statutory audit for construction projects is to provide assurance to stakeholders that the financial statements of the project are free from material misstatement, whether caused by fraud or error. The auditor will also assess whether the project has complied with applicable laws and regulations, and… Read More »

Why project status reporting is important?

Project Status Reporting Project status reporting holds significance for multiple reasons: 1. Communication: Project status reporting facilitates effective communication among project stakeholders, including team members, managers, clients, and other relevant parties. It keeps everyone informed about the project’s progress, key milestones, issues, and risks. Clear and regular communication helps align expectations, promotes transparency, and… Read More »