Cost verification & assurance
Gleeds has vast experience in carrying out cost verification, assurance, and forensic accounting work on infrastructure projects in the public and private sector in the UK and around the world. We field a team of highly experienced cost assurance experts from a range of disciplines. They have taken lead roles on some of the largest rail, transportation, utility, and construction infrastructure projects around the world, for clients including HS1, HS2, Crossrail, Tideway, Deutsche Bahn, and JetBlue.
We verify and assure all types of costs, contracts, systems and processes, to ensure transparency, accountability and value for money for our clients.
The strategic advice we provide is focused on implementing robust cost verification and assurance plans for projects, programmes, and organisations. Our approach involves embedding best practice into clients’ and contractors’ internal processes at every stage.
Delivering global expertise locally
Gleeds has a market-leading, diverse talent pool of recognised experts with a range of auditing, accounting, commercial, surveying skills, ready to mobilise at the right time and in the right locations.
As an independent consultancy, we’re at liberty to deliver impartial thinking that is tailored to specific markets and needs.
Stakeholder management
Our cost verification and assurance specialists maintain a collaborative approach when interacting with clients’ supply chains, to implement strong working relationships and foster trust in the validity of our findings from all parties. We’re also able to co-ordinate and collaborate with other internal and external assurance stakeholders.
If any issues are identified, we work with the client and supply chain to close out our observations and apply lessons learnt.
Capabilities
Gleeds’ cost verification and assurance capabilities include:
- Assessing the contractor’s controls, processes, accounting systems and mechanisms for the application of costs.
- Detailed substantive testing of transactions and cost types on large scales.
- Interrogating financial information, using forensic technology and data analytics tools.
- Preparing risk-based audit plans, and quantitative and qualitative risk assessments.
- Investigating fraud and other financial irregularities.
Setting and monitoring Key Performance Indicators.
Once a project is up and running, we review supply chain contracts to provide assurance that they’re being administrated in line with the agreed terms and conditions.
Financial establishment reviews
Conducting contractor ‘interviews’, we test systems diagnostics and appraise cost collection processes. We also review intra-company/group transaction processes, and evaluate spend profiles. Any improvement plans are controlled using root cause analysis.
Cost verification & assurance team
Sara Boonham
Birmingham, United Kingdom
Edna Benavides
Madrid, Spain
