Engagement Memo—Project Cost Management
We are initiating an audit of the company’s project cost management practices. Our objective will be to assess the effectiveness of the company’s systems and processes to track and manage project costs. We may expand our scope or modify our objective during the audit. To complete our work, we plan to interview company officials with project cost management responsibilities, review relevant documents and data, and assess related policies and procedures.
We will perform our work in accordance with generally accepted government auditing standards. Further, we will conduct our outreach with the company as efficiently as possible, and we will coordinate meetings with company officials in advance to avoid significant disruptions. In our interactions with the company, we will follow P/I 2.1.4, which sets forth the relationship between our office and the company. In particular, section 7.0 of the policy discusses coordination between company officials and our Office of Audits.