Shanghai Congxin Certified Public Accountants

Construction Cost Settlement Audit

Construction cost budget, settlement, and final audit refer to the review and verification of basic construction project budget, settlement, final settlement, and related documentation by an accounting firm upon request. An audit opinion is issued based on this review.

 

The construction cost budget involves the estimation of project costs, including quantity take-offs, the selection of corresponding budget quotas, budget unit prices, and related cost standards based on construction drawings. The construction cost settlement is a process of settling the project cost according to construction progress, the construction contract, and the supervision of the construction. It also includes adjusting the budgeted prices based on any changes that occurred during the project's implementation beyond the scope of the construction contract. This process determines the final settlement price of the project. The construction final settlement is a comprehensive document prepared after the completion of the project or individual construction, reflecting the actual cost and construction results of the project.

 

The audit opinion includes the authenticity and legality of the audit report. Authenticity of the audit report means that the report should accurately reflect the scope of the audit, audit basis, main audit procedures performed, and the audit opinion to be expressed. Legality of the audit report means that the preparation and issuance of the audit report must comply with the provisions of the "People's Republic of China Certified Public Accountants Law" and the "Interim Measures for Accounting Firms Engaging in the Audit of Construction Project Budget Settlement and Final Settlement" by the Ministry of Finance.

 

Our firm can provide construction financial budget, settlement, and final settlement audit services for our clients.

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