Financial Management and Audit of Construction Contracts


Financial Management and Audit of Construction Contracts

The aim of any construction project is to achieve the best possible outcome for the client. It is now
widely accepted w i t h both the private and public sectors that better teamwork during construction
projects leads to better results for both client and the whole supply chain.Thus the policies promoted by the CIB seek above all to deliver the values of teamwork, co-operation, trust and respect throughout construction projects. Our vision can be summed up as follows: "The industry fully meeting the needs and expectations of its clients, and in their turn, clients acting to make that
possible .

The Good Practice Panel of the Construction Industry Board under the chairmanship of Richard
Saxon was pleased to endorse this guidance when the draft was available to them in spring 1999. It
is an excellent and thorough guide, gathering in one document all the necessary advice for auditors and contract professionals. The guidance is fully consistent with the practices promoted by the CIB in the name of, and with the full support of, all its member bodies, ie the representative bodies of the construction industry, its clients (all parts of the private and public sector) and government. The standards of 'good clientship' promoted herein are fundamental to delivering the improvements in construction performance first sought by Sir Michael Latham in his 1994 report and more recently in Sir John Egan's task force report Rethinking Construction.


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