Cost Assurance Auditor

3 weeks ago

London, United Kingdom Balfour Beatty Full time

**About the role**
Balfour Beatty has an exciting opportunity for a Cost Assurance Auditor to join our growing team in London

As a Cost Assurance Auditor you will:

- Support in compiling the Audit Scope, arranging initial meetings with Subcontractors and Commercial team to approve scope and timetable of audit.
- Requesting information, based on the Audit Scope, including Purchase Orders, Invoices, proof of payments and any other additional information required from Subcontractors to facilitate the audits and ensure adherence to the contract. Follow-up as required with outstanding/delayed information.
- Analysing large volumes of data, verifying the costs in line with the schedule of cost components aligned to the NEC contract, highlighting any discrepancies or potential disallowed elements/values. Demonstrate a full understanding of the contract, including the schedule of cost components and able to understand and assess risks associated with it. Support the Cost Verification Manager to implement controls and validate these to assist in the cost assurance control environment.
- Conducting cost verification deep dives and internal audits across all work packages and providing recommendations to mitigate disallowed risks. Support the Cost Verification Manager in the issuing of findings and recommendations for improvements across all packages and follow up thereof.
- Visiting external Subcontractor offices to audit Staff and Labour, understanding what is included in the payroll reports and auditing against the Schedule of Cost Components. Sample testing on CVs, qualifications, rights to work and time-sheets.
- Reviewing the Company policies for Modern Slavery, Anti-Bribery and expenses to ensure that they are being adhered to.
- Provide necessary support to Commercial counterpart(s) working on individual work packages ensuring knowledge share and control of financial information in line with the contract.
- Produce comprehensive reports detailing all audit findings and recommendations including disallowed cost risk
- Be proactive in identifying weak audit areas and leading indicators of potential issues on the project.
- Support the Cost Verification Manager in the definition and implementation of a financial control environment, processes, tools and techniques to deliver effective and efficient cost assurance in accordance with the BBVS procedures to prevent disallowed cost and with Parents companies reporting policies.

**What you'll be doing**
- Requesting information, based on the Audit Scope, including Purchase Orders, Invoices, proof of payments and any other additional information required from Subcontractors to facilitate the audits and ensure adherence to the contract. Follow-up as required with outstanding/delayed information.
- Analysing large volumes of data, verifying the costs in line with the schedule of cost components aligned to the NEC contract, highlighting any discrepancies or potential disallowed elements/values. Demonstrate a full understanding of the contract, including the schedule of cost components and able to understand and assess risks associated with it. Support the Cost Verification Manager to implement controls and validate these to assist in the cost assurance control environment.
- Conducting cost verification deep dives and internal audits across all work packages and providing recommendations to mitigate disallowed risks. Support the Cost Verification Manager in the issuing of findings and recommendations for improvements across all packages and follow up thereof.
- Visiting external Subcontractor offices to audit Staff and Labour, understanding what is included in the payroll reports and auditing against the Schedule of Cost Components. Sample testing on CVs, qualifications, rights to work and time-sheets.
- Reviewing the Company policies for Modern Slavery, Anti-Bribery and expenses to ensure that they are being adhered to.
- Provide necessary support to Commercial counterpart(s) working on individual work packages ensuring knowledge share and control of financial information in line with the contract.
- Produce comprehensive reports detailing all audit findings and recommendations including disallowed cost risk
- Be proactive in identifying weak audit areas and leading indicators of potential issues on the project.
- Support the Cost Verification Manager in the definition and implementation of a financial control environment, processes, tools and techniques to deliver effective and efficient cost assurance in accordance with the BBVS procedures to prevent disallowed cost and with Parents companies reporting policies.

**Who we're looking for**
- Strong analytical skills, with demonstrated ability to create quality, well-organised financial analysis from multiple data sources. Attention to detail and accuracy required.
- Previous experience of conducting cost assurance audits, thorough knowledge of audit procedures, including planning.
- Strong communication, numerical an

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