Contribution to 2018 Preqin Global Infrastructure
February 27, 2018
Infrastructure projects are predominantly funded by public and private sector institutions, which are under ever-increasing pressure to demonstrate transparency and value for money. Internal audits are one of many ways to provide cost assurance, which meets investor and taxpayer expectations. This article explores some of the processes that can be applied to audit an infrastructure project. The article is not exhaustive and further reading is recommended from publications that include: The International Standards on Auditing (UK) (ISAs [UK]), International Standard on Quality Control (UK) (ISQC [UK]) and other guidance notes from the International Federation of Accountants (IFAC).