Audits (Unit 25|26)

An APC Candidates Guide.

Unit 25|26 – Special Assessments outlines the specific competencies required for audits conducted by infrastructure quantity surveying professionals. This unit focuses on various assessments of the current status of assets, aiming to inform future management and financial decisions.

The unit is divided into three main types of audits: Premises Audit, Energy and Maintenance Audit, and Asset Registers. Here's a summary of the key elements within Unit 25|26:

General Overview:

Audits involve assessing the current status of assets to determine future management and financial directions, while also considering potential environmental impacts and life cycle aspects. They aim to identify energy usage and maintenance characteristics to minimize costs and provide a comprehensive listing of asset components for various ownership decisions.

A. Premises Audit:

This type of audit focuses on delivering a detailed condition statement of an asset. The key elements include:

• Establish Project Objectives and Parameters: Clarifying objectives with the client and consultants, and verifying project parameters and constraints.

• Confirm the Basis and Level of Reporting: Defining the reporting level (overview or detailed) and confirming its implications.

• Coordinate the Functions of Various Consultants: Clarifying the roles of different consultants involved in the audit.

• Confirm Reporting Format, Layout, Presentation, and Level of Detail Required: Agreeing on reporting details with the client and consultant team.

• Complete Asset Audit: Carrying out the actual audit.

B. Energy and Maintenance Audit:

This type of audit aims to identify appropriate energy usage and maintenance characteristics of an asset. The key elements include:

• Establish Project Objectives and Parameters: Determining service objectives with the client and reviewing energy and maintenance characteristics.

• Access Available Data and Information: Assessing the availability, relevance, and requirements of data needed.

• Confirm Audit Timing: Establishing the initial audit program and the timing for subsequent audits.

• Establish Reporting Details: Confirming the reporting format with the client to ensure maintenance program adherence and highlight potential for minimizing future costs.

C. Asset Registers:

This type of audit provides a defined listing of the components, plant, equipment, and general fabric that constitute a property asset. The key elements include:

• Confirm Service Objectives: Determining service objectives with the client regarding the intended use of the asset registers (both short- and long-term) and confirming the required level of detail.

• Confirm Interface with Other Professional Consultants: Coordinating with the client’s business manager, accountants, or legal advisors to ensure compliance with their reporting requirements.

• Establish Reporting Details: Confirming the reporting format with the client.

• Complete Asset Register Report: Finalizing the asset register report.

The unit also highlights additional indicators showing the necessity for strategies to access data related to regulations, legal requirements, research, and data gathering. Competency in this area entails analyzing data, employing suitable analysis and evaluation techniques, and understanding financial, insurance, and tax practices relevant to audits.

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Disclaimer: This information is for general knowledge purposes only and should not be considered legal advice. It is essential to consult with a qualified legal professional for any legal matters or concerns.