Construction projects are one of the most visible and complex financial expenditures an organization can undertake. Before taking on a project of such magnitude, it is important to find a business partner you can lean on throughout the project’s lifecycle, from pre-construction planning to close-out documentation.
Our team of Certified Construction Auditors provides a unique combination of project management and fiscal analysis, adding a greater level of accountability for the project team and serving to increase potential savings. We have demonstrated experience in fast-paced environments and corporate cultures, providing you cost avoidance and recovery for the project.
We Support and Impact Growth
We recognize and understand the positive impact our role can have on an organization. Here is how we can support and impact your growth:
- The Right Experience – Our team brings substantial experience in construction and contract auditing, forensic accounting and data analysis.
- The Right Mix – We have over 20 St. Louis-based professionals on our Real Estate Advisory team. The team consists of highly credentialed professionals with designations such as: CCA, CCP, CPA, PE, Licensed Architect, LEED Green Associate, MBA and JD.
- The Right Focus – We understand and appreciate the accountability and responsibility that management has for overseeing and controlling the expenditure of its funds. As such, our procedures are designed to focus on what is important to your construction project. Brown Smith Wallace has a proven track record of construction audits that produce a return on our clients’ investments and, just as important, help them feel confident in the integrity of their construction spending.
- The Right Results – Typically, the recoverable costs we identify far exceed our fees. We average an ROI of $8:$1 – some project ROIs exceed $15:$1. We differentiate ourselves from our competitors by assisting in: reviewing contracts for language impacting the project financials; change order review and verification; and scope versus cost clarifications. These interventions can have a substantial impact on actual costs avoided and recovered.
- The Right Choice – Throughout the engagement, we will check in with you to continually refine our understanding and to confirm that our services are appropriately focused. We pride ourselves on our ability to adjust our priorities to help Owners not just with issue identification at project commencement, but also with resolution throughout the course of the project.
An Industry Leader
Brown Smith Wallace has substantial experience providing construction auditing services to hospitals, healthcare systems, colleges and universities, mixed-use industrial spaces, retail, major league sports facilities and manufacturing organizations. Our collaboration with such industry leaders as RGA and Mercy has brought about substantial results.
We understand that embarking on a major construction or capital project represents a tremendous growth opportunity for your organization, stretching your management team into uncharted territory. Our team is dedicated to ensuring the financial aspects of the project are monitored as closely as the structural aspects. Partnering with an expert like Brown Smith Wallace can make the difference between extensive cost overruns and delivering a project on time and within budget.
Brown Smith Wallace has assisted the Internal Audit Section of the City of St. Louis with various construction audit projects. These projects have focused on reviews of contracts, payment applications and change orders. These construction audits have improved internal controls within the city, and have subsequently helped save taxpayer dollars. We value the expertise and personalized service the Brown Smith Wallace team has provided us.
City of St. Louis, Internal Audit Section
Mohammad Adil, Audit Supervisor
In addition to finding significant savings on Mercy construction projects, the Brown Smith Wallace Construction Audit team understands our values and culture – treating vendors as Mercy would. The team members have broad skillsets and deep industry experience, bringing us a concentration of industry best practices.
Geralyn Lynch, Director Facilities Finance
Since 2011, Brown Smith Wallace has assisted the St. Louis Metropolitan Sewer District (the District) with performing its ongoing internal audit function, which includes procedures to monitor, review, and test the activities of a $4.7 billion system improvement initiative to improve water quality and alleviate wastewater concerns that were identified and addressed by the EPA through a Consent Decree that went into effect in April of 2012. Their team has provided significant expertise in the areas of construction auditing that include engagements addressing construction and design contracts, payment applications, change orders, overhead rates, and safety programs. Their firm's assistance and expertise has greatly helped the District improve and strengthen the processes and controls over this very large system construction and improvement initiative. These efforts have been very effective in assisting Management in their efforts to adequately protect the assets of the District, thereby protecting the interests of the District’s stakeholders, which is vitally important. Brown Smith Wallace is a valuable partner and expert in construction audit services, and the District greatly values the services they have provided.
St. Louis Metropolitan Sewer District
Todd Loretta, Internal Audit Administrator