Tuesday, 27 May 2014

The Importance of Auditing in an Anti-Fraud World Construction Fraud: Detecting, Controlling, & Audting

Fraud is alive and well within the construction industry and permeates virtually all levels of construction activity for both domestic and international projects. This session will provide an understanding of fraud’s impact on the industry with a focus on the three primary elements of construction costs where fraud occurs: labor, materials, and equipment.

Louis A. Urso has worked in the Construction Industry for more than 35 years in various key management roles, including Project Controls, Construction Auditing, and International Project Development. While with his former employer, Air Products and Chemicals, Inc., Mr. Urso provided instruction and training in Project Controls, Construction Systems, and Construction Audit techniques to engineering and financial professionals in the United States, China, Taiwan Singapore, South Korea, Hong Kong, Indonesia, Malaysia, Thailand, Brazil, and the UK. He also spent three years in Saudi Arabia and two years in Venezuela managing the project controls and finance on several major heavy industrial projects.

Mr. Urso is currently an independent consultant providing clients who undertake major construction projects with Controls Review and Analysis, Cost Recovery Auditing, Cost Systems Development, Frauds Investigations, and Construction Audit and Fraud training seminars. He has handled investigations regarding bidding irregularities, employee fraud, and contract fraud.

“Association of Certified Fraud Examiners,” “Certified Fraud Examiner,” “CFE,” “ACFE,” and the ACFE Logo are trademarks owned by the Association of Certified Fraud Examiners, Inc. The contents of this paper may not be transmitted, re-published, modified, reproduced, distributed, copied, or sold without the prior consent of the author.


CONSTRUCTION FRAUD: DETECTING, CONTROLLING, & AUDITING

Status of Fraud in the United States
Statistics on incidents of fraud consistently rank the Construction Industry in the top tier of industries experiencing fraudulent practices. The U.S. Census Bureau has reported 2011 construction at $816 billion. Statistics suggest that construction fraud might be as high as 10 percent of total construction activity.

Who Commits Fraud
Perpetrators of fraud do not fit the stereotype of deep dark sinister individuals who consistently appear on police wanted posters or crime alerts. Fraud is typically committed by average individuals. They are generally married, educated, long-term employees with no prior arrests and attend church or synagogue. Fraud, at least construction fraud, often is condoned by management
within contracting firms and their subcontractors. Fraud by contractor management can manifest itself in the form of various fraudulent billings, or manipulation of scheduled values. Overzealous contractor personnel seeking to maximize their employers profitability in an effort to gain favoritism, or for personal gain, are very often perpetrators of construction fraud.

Where fraud is detected, very often owner personnel are involved in the fraud scheme. They might be involved in bid rigging, change order manipulation, sole source contract awards, or cover-ups of fraudulent billing. When owner personnel are involved, it is almost always for monetary personal gain in the form of kickbacks or gifts.

Organized Crime
No discussion on construction fraud would be complete without mentioning Organized Crime and their activities within the Construction Industry. Everyone has seen

Wednesday, 21 May 2014

Axis Capital Group Reveals "The ACG Advantage"

Axis Capital Group customers receive many benefits in working with the agency

Singapore. – Axis Capital Group, Singapore, a company that sells and rents construction capital equipment from cranes to excavators and related heavy construction equipment throughout Southeast Asia, released a message to its clients and possible future customers stressing what it calls “The ACG Advantage."

Axis Capital Group offer clients a set of benefits that are not present at most equipment leasing and financing organizations. With Axis Capital Group worldwide network of sellers, the organization has the best pricing possible to customers for any type of equipment.

"Our goal at Fidelity Capital is to provide our customers with the lowest possible prices on their leasing plans or even purchasing deals," said Reynolds White, spokesperson of Axis Capital Group. "We believe that our network and processes give us access to a wider variety of deals than any of our competitors can provide.”

When you sum up all those available discounts with all of the financing and leasing options that Axis Capital Group has available, we have a clear advantage in this field. Axis Capital Group customers also have to pay no money out of pocket, can find fast approvals for their financing plans and avoid the hassle of having to deal with vendor approval. We take care of everything.

"We want to both save our customers a lot of money while providing them with the most efficient, stress-free service that they can find anywhere," said Axis Capital Group. "The ACG Advantage makes us the best fit for equipment leasing and financing customers of all types."

Axis Capital Group has been servicing Southeast Asia with a complete selection of capital equipment. We continually focus on providing the highest standards in quality products and customer service.

Learn more about Axis Capital Group and its equipment leasing and financing options at www.axiscapitalgrp.com


Monday, 19 May 2014

Axis Capital Group Becomes Preferred Financing Partner For Giger Franchise Owners

Singapore, May 2013 – Axis Capital Group, a company that sells and rents construction capital equipment from cranes to excavators and related heavy construction equipment throughout Southeast Asia, publicized that they are the preferred financing partner for Giger franchise business owners worldwide. The partnership means Axis Capital Group will bring its industry-leading construction capital equipmenrts and services to current and prospective Giger franchisees who need funding for furniture, fixtures and equipment (FF&E), product improvement programs (PIP), lease-hold improvements, and remodeling initiatives.

“Being chosen as a preferred financing partner for Axis Capital Equipment franchisees articulates to our expertise and track record of success in working with international brands,” said Axis Capital Group Director of Business Development for the Franchise Division.

Axis Capital Group has made franchise financing an important part of its business and is a well respected company among franchisors and franchisees in a diversity of industries. “We are more than capable to provide single-unit and multi-unit, for sale and lease, capital equipments, along with the outstanding customer service they expect,” said Axis Capital Group speaker, Reynolds White.

For more information about Axis Capital Group, please contact Reynolds White at (000) 000-0000 or via email at email.com.

About Axis Capital Group
Axis Capital Group based in Singapore is a company that sells and rents construction capital equipment from cranes to excavators and related heavy construction equipment throughout Southeast Asia. The company is a multi-line dealership that is committed in assisting you in finding the products that will meet your job requirements. 
Since 1999 Axis Capital Group has been servicing Southeast Asia with a complete selection of capital equipment. We continually focus on providing the highest standards in quality products and customer service. 
The company structure and flexibility combined with relatively low overheads make Axis Capital Group very competitive in the market place and since Singapore is a port and where the company, you are guaranteed that your equipment will be delivered in no time and with the highest of quality.