Construction contracts are especially vulnerable to fraud. According to a global study from the Association of Certified Fraud Examiners, the median loss in over 40 construction fraud cases was about $245,000. For small or mid-sized companies, that amount is staggering. What’s more, small organizations report more instances of fraud than their larger counterparts.
It used to be fairly common practice to line up multiple suppliers for the same raw materials. This way, you’d have a backup plan (or several) in case a vendor dropped the ball. Continue Reading
Work in progress figures might not sound like something you need to think much about. That’s accounting’s job, right?
Contractors often finish out the year with less money than they expected. When you think about the moving parts of a large-scale construction project, it’s no surprise that little things eat into your bottom line.
School audits can be tough. Especially for the independent school. Continue Reading
![Purchase Orders : What They Are, Why Use Them, and What To Do With Them. [New Data]](https://i1.wp.com/www.procurementexpress.com/blog/wp-content/uploads/2017/06/2-All-you-should-know-about-dynamic-approval-routings-01-1-1.jpg?resize=40%2C40&ssl=1){kind=small}
