Construction Success Story — Observant contractor anticipates government audit risk

Description

Abstract: This issue’s “Construction Success Story” discusses a contractor who consulted his financial advisor after seeing an acquaintance’s company fail a government construction audit, leading to a halt on all job payments and putting the poor fellow’s contract at risk. The advisor showed how to best anticipate the risk of such an audit, and then explained the different types of government audits and some fundamental preparatory steps.