Guessing is not a strategy: How to build decision velocity with AI and real-time data
June 10, 2026 | Live Webinar
Are You Ready For A Project Audit?
Good project managers track new requirements, scope change and costs. In response to financial compliance requirements, many public organizations are also insisting that this documentation provides a complete audit trail for government auditors.
Government-mandated financial compliance requirements such as Sarbanes-Oxley (SOX) are driving large investments in corporate accounting infrastructure, ethics training programs and business process management initiatives. In addition, companies that derive revenue from projects, or that sell products that have a large installation or service component, are subject to reporting revenue in accordance with the SEC Staff Accounting Bulletin 101 (SAB 101), which address flowing project payments into the corporate forecasting and income statements.
As both SOX and SAB101 become an integrated part of the project accounting requirements, project managers and executives need to understand the SOX basics, ethics reporting requirements, and an overview of the Federal Sentencing Guidelines (FSG) that are driving internal audit requirements for project revenue.
The payment structure for many projects is established during the development of the project statement-of-work (SOW), proposal and quoting activity in response to a request-for-quote (RFQ) or request-for-proposal (RFP) as part of the capture management process. For simple projects, …
Please log in or sign up below to read the rest of the article.
ADVERTISEMENTS
|
"Opera is where a guy gets stabbed in the back, and instead of dying, he sings." - Robert Benchley |