Verification and analysis of budget documentation at all stages of the investment process

The article discusses the procedure and the necessity to audit and analyze estimated construction costs, which are fully or partially financed through various types of budget or investors. The audit of the fair estimated cost of capital construction projects is grounded and some provisions significant for the inspection and analysis of the estimated cost are provided in the article. The purpose of the article is to describe the modern practice of checking and analyzing budget documentation in construction. The attention is also paid to the development of technical specifications for estimate and preparation of documents. The stages of investor's estimate documentation verification, contract price and mutual settlements for the work performed are analyzed. The article considers priority of the regulatory frame work application, as the main stage in preparation and verification of the estimate documentation. Methods. Considerable attention is paid to the accuracy of quantity estimate with reference to unaccounted materials costs, application of correct coefficients, etc. Typical errors in calculating the estimate documentation through the investment process are examined. Verification features of the estimate documentation for new construction, major repairs and reconstruction are studied. The article focuses on PIC when checking validity coefficients to take into account the impact of working conditions. Main issues to be solved during verification and analysis of the budget documentation are considered. Conclusions. Availability of information models for cost estimate documentation, as well as documentary evidence of all costs of the contractor are essential in audit procedure. The ways to check the cost of construction work performed are analyzed and the main methods of overrating the estimated and original cost are emphasized. Specific recommendations on how to draw up and verify all types of estimate documentation and to prevent the most common errors and distortion of the estimated costare given.