Construction Defects & Claims

Matson, Driscoll & Damico’s dedicated team of professional forensic accountants know construction delays occur for a variety of reasons including inclement weather, subcontractor or supplier issues, poor workmanship, and labour problems, among others.  

Additional difficulties with critical path scheduling and coordination of the construction trades can lead to idle periods, change orders, delayed start-up and lost business opportunities.

These setbacks can cause a loss of profits, decreased market share, difficulty securing future contracts, hefty fines, increased financing, additional interest and operations expenses.

In most cases construction delays are caused by myriad factors, some insured causes and others uninsured.
 
When unexpected delays or disagreements threaten a project’s completion, MD&D serves as part of a consulting team that efficiently analyses and clearly communicates all findings to the affected parties to determine losses in accordance with the policy and resulting from insured causes.   

MD&D’s forensic accounting review includes:

• Confirmation of contract compliance
• Document flow management
• Interaction with other industry experts
• Financial and operational budgets/plans and actuals
• Bank loan and interest documentation
• Analyse competitor and market data
• Separation of insured and uninsured losses in delay period
• Categorisation and analysis of all costs including overruns
• Reconciliation and reasons for any discrepancies or differences
• A written report summarising findings

Additionally, if the project’s future value becomes subject to dispute, our team can assess the impact to the project’s current and future value.