I am currently working on a Construction Accounting Audit and I am looking for some insight for my audit program. The current objectives of the audit are
-to ensure that the construction contracts have been properly documented and completed
-to ensure that authorized expenditures are properly recorded and paid
-to ensure that amounts in subsidiary records are in balance with respective general ledger accounts
-to review the bidding process.

Are there any other items that anyone can suggest I look at? Thanks for any help!

Tell us a little more. Is this audit related Bank buildings being built?

I will be looking at one new credit union building constructed as well as a renovation project.
Thank you for any help

Still looking for some input on about this topic. Anyone have anything to share?

There is a number a ways to perform this test work. It depends on how many hours you may want to assign. Here are some topics I would cover.

-Was the contract and any subsequent changes approved by the appropriate parties.
-Are submitted invoices for work in process properly approved.
-Who is responsible for verifying work on the listed invoice was actually completed.
-How is work in process properly captured on the general ledger.
-Once completed review amount on depreciation schedule to support.
-Determine appropriate depreciation method

I hope these comments help.

I appreciate the feedback. It most certainly does help.