Cost Assurance Auditor

Location - London

Salary - £36,000 per annum

Permanent

Hybrid working model - 3 days in office, 2 working from home

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
Regular contact with project auditors to manage findings back to Cost Verification Manager.
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 company procedures to prevent disallowed cost and with Parents companies reporting policies

Skills and Experience

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 and presentation skills including the ability to deliver reports orally and written in an objective and persuasive manner, demonstrating initiative and resilience when challenged.
Proactive, problem-solving individual who takes full ownership and accountability of their work.
Confidence to work closely with the Commercial team and building good working relationships with external Subcontractors.
Experience of contract reviews, commercial proposals, business cases.
Act as a strong advocate for best practice, able to support and defend practical deployment and solutions, whilst remaining open to the ideas of others.

Further details provided upon application.

ECS Recruitment Group Ltd is acting as an Employment Agency in relation to this vacancy