Our Staff and affiliated Consultants provide audit services in :

• Technical (engineering) Audits
• Financial Audits,
• Procurement and Contractual Audits.
• Internal Audits

Technical, Financial and Internal Audit:

1- Technical  (Engineering) Audits:

Our technical audit team conduct a standardized process to examines the assignment (project) progress. The Audit results are drawn and built from the outcomes of our inspection tasks. We implement ordered Inspections to check that project is running smoothly. The results of our inspections could be used by the project management to investigate the current state of the project and minimize malfunctions. We use standardized and pre-prepared, well-structured, and unbiased checklists in the inspection, and the results are compared to the baseline predetermined requirements as stipulated in the reference documents of the project. Our team exercise assessment and evaluation which will enable estimating the status quo and any risks or benefits (if any).

We implement a thorough inspection and assessment of all aspects that impact the technical performance and progress of the project (assignment) components including studies, implementation contracts, procurements and plans. We usually start by assessing the availability of controls/documents (time plans and schedules of each individual activity/contract designed or tendered for project implementation (studies, design and construction works), a master/milestone time schedule, cash flow/s-curves, monthly/daily progress reports and its contents and formats, a project management documentation, reporting procedure/chart, management resources availability). Our staff are used to submit a detailed audit work program including the tests and/or procedures and considering the risk based framework and any risk of material misstatement as a result of fraud or error. Our Technical Team are well familiar with the General and Special Conditions which is based on FIDIC 1999.

Our Audit scope covers:

a) Time plan: The availability of a baseline and updated master/milestone schedule integrating all project activities is considered a key control that facilitate the auditing and controlling of project timeline. Our team are experienced in reviewing all project components (activity, contracts, and agreements) available documents, reports, plans and schedules, our team establish a benchmark that is used as time milestones in the project documents including appraisal, financing, related supplemental documents and project time plan. This review enables extracting the project time milestones including the operation date which will be used to develop a Milestone Schedule that will be used as a Baseline/Target for assessing the Project Progress. This when compared to actual progress will enable calculating the actual % percent complete, final expected completion date, the schedule variance (SV) and schedule performance index (SPI). The actuals will be obtained from each project components (activity, contracts) individual time schedules and progress reports by taking the status report of end of year actuals and plug it into the Master schedule. We use the Critical Path Method (CPM) for evaluating the time performance indexes of the Project. Our technical audit reports include the values of those indexes by comparing the actuals with baseline. It includes details of the project technical progress and the identified delays (if any), its reasons and implication on the project timeline. Any Risks/Issues of concern will be highlighted for close monitoring and management by the project management. We use proper software (MS. Project, Primavera) in our work. The format of our technical audit report is agreed upon with our client taking into consideration the readability and comprehensiveness and client required standards and formats for the project audit and reporting requirements. The same procedure is employed to evaluate the performance of the individual contracts and work packages (studies, design and construction of project components).

b) Variation Orders (V.Os): our team are experience in evaluation the impact of variations issued to the original scope of the project audited, this include

2- Contractual/procurement audit: our team are experienced auditor of tendering process including the contents of tender documents, the procedures followed in tendering, the evaluation process, and the award. Our audit work covers tender announcement, EOI, RfP, addendums, short listing, the technical evaluation reports, and the award decisions. We evaluate the compliance and abidance to principles of competition and transparency as stipulated in relevant adopted controls, relevant financing stipulations, and the internationally recognized standards including international conventions against corruption for the award and procurement of contracts. Focus is put on the information and pre-selection of suppliers, the content and publication of tender documents, the evaluation of bids and award of contracts. We inspect the compliance of the procurement procedures followed and the timing of each step to the applicable to the relevant regulation, we check the Special Conditions and the quality standards of equipment and material for any potential fraud/ corruption risk resulting from directing the specification to a specific supplier or contractor.

Our audit work for the implementation stage, includes the appointment of subcontractors, the time extensions, the price adjustment calculations, the invoicing and payments, and the issuance of V.Os in terms of content and process for compliance with regulations, transparency principles, and abidance to regulations. Our audit aims at ensuring that changes to the contract in terms of cost and/or time and any other contractual issues follows the appropriate procedures.

Our audit also includes Cost, Scope, quality of the project/work Packages

3- Financial Audit:

Our Financial audit practices encompasses a broad range of professional services designed to meet each of our clients’ individual needs to help them thrive – now and well into the future. We provided services of compilation, consultation, arbitration and assurances services to a diversified portfolio of clients e.g. (Government Agencies, Private and international NGOs, Private Sector firms, International Donors agencies: UN agencies, World Bank, European Commission, and Internationally recognized NGOs).

In addition to the assurance services we provide the following services to our clients:

• Accounting & Taxes
• Internal control evaluation
• Evaluating budgets, forecasts and business plans
• Business forecasts and projections
• Evaluating financing alternatives, financial modeling and feasibility studies
• Due Diligence & Business Evaluation
• Business Arbitration, Restructuring and Reform

We believe that our experience including the expertise of the experts that will be dedicated for performing any assignment matches those required and described by the clients’ needs, our team members are of high caliber experienced and integrated team that form one body responsible for successful delivery of the Clients Audit objectives.

To boost our performance, IUPconsult has entered into a strategic partnership with Qazzaz Audit Est. The Partnership Agreement has been based on the mutual willingness to take parts in more sophisticated assignments through participating in tenders and bids of private, public and international agencies; both parties agreed to partner with each other to strengthen their mutual positions in all professional and financial aspect.

4- Internal Audit:

IUPconsult staff and affiliated consultants are Experts in Internal Audit, Risk Consulting and Internal Control with over 10 years’ experience with major companies and institutions including KPMG, Grant Thornton, PKF, Abu Ghazaleh and Jordan Telecom Authority. They provided professional services to many clients in Jordan, Palestine, Saudi Arabia, Lebanon and Iraq. Our experts hold many professional certificates issued by internationally recognized entities specializing in internal audit, risk management and internal control including Certification in Internal Audit (“CIA”) issued by the Association of Internal Auditors (IIA), Certification in Management Accountant (“CMA”) issued by the American Management Accountants Association (“IMA”), they are Certified Director of Certified Operational Risk (CORE) issued by Grant Thornton Global Risk Consulting.

Our staff have experience in carrying out professional work in various fields, including: Planning and execution of risk-based internal audit functions; Perform the audit in accordance with Agreed Upon Procedures Audit; Performing Compliance Audit Services (“Compliance Audit”); Provide advisory services in the areas of risk management and internal control, such as risk profiling, as well as the design of the Self-Assessment and Risk Assessment Programs (“Control Risk Self-Assessment”); the participated in the investigation and investigation of fraud and embezzlement (“Fraud Investigation”) in addition to participating in the functions of knowledge of ignorance (“Due Diligence”); they Conduct micro-assessment of non-profit regulatory procedures (“Micro Assessment”), evaluated operational processes for the purpose of identifying non-value-generating activities and provided practical recommendations for addressing them, thereby speeding up operations and increasing their efficiency and effectivity (“Business Process Re-Engineering”); the practiced developing regulatory manuals, policies and procedures for many processes such as financial management, human resources, procurement, marketing and sales; Conducting Governance Gap Analysis in accordance with applicable legislation and laws as well as developing governance guides and codes, financial analysis and analysis of corporate activities and making recommendations and corrective actions to improve and sustain financial results. Their experience included providing consulting services to a large number of major institutions and companies (Manufacturing, Electricity and Gas, Water, Construction, Wholesale and retail trade, Financial and insurance activities, etc) in and outside Jordan.