Construction Audit & Advisory: Upcoming Chances to Learn and Connect
HPM’s Audit & Advisory team is hitting the road for May conferences. AAIA’s 35th Annual Conference in Denver and COAA Connect Spring 2025 in Pittsburgh will feature sessions with valuable insights from seasoned experts from our team.
AAIA 35th Annual Conference
May 4–7, 2025
Denver, CO
Event Details
The Annual Association of Airport Internal Auditors (AAIA) Conference invites airport internal auditors from around the world to learn and network each year.
- Audit Director Valerie Rogers Smith and Principal Jake Ortego will lead a session on allowances and contingencies.
Session Highlight:
Title: Auditing Allowances and Contingency on Construction Projects
Allowances and Contingencies are tools used within construction contracts to address items that are either not defined or cannot be defined at this time; however, will be required to deliver the project’s intended scope. While many contracts provide clear rules for the use of allowance and/or contingency funds and how they will be tracked, it is also not uncommon to have ambiguous contract terms. Additional complexities are possible given that each party can have contract allowances or contingencies including the owner, contractor, subcontractors, and design firms. This presentation will provide an understanding of construction allowances and contingencies as well as an approach to auditing them. The session will include exploring some of the nuances of these contract tools as well as common areas of disagreement on the approval, usage, reconciliation, and tracking of funds.
COAA Connect Spring 2025
May 7–9, 2025
Pittsburgh, PA
Event Details
The Construction Owners Association of America (COAA) supports Owners’ success in the design and construction of buildings and facilities through education, information, and collaboration.
- Jake Ortego and Andrew Reilly from Carnegie Mellon will lead a session discussing current considerations related to tariffs and rising costs.
Session Highlight:
Title: Tariffs and Other Escalation Costs … Let’s Discuss
The last few years have seen increased escalation claims due to volatility caused by world events. Most recently, the still TBD impacts of federal tariffs are causing uncertainty and even panic. Entitlement to any portion of these increases is often not clearly defined or understood by all parties. Adding to the confusion, there are many variables to consider … including market trends, procurement schedules, contractual requirements, and delays outside the control of contractors and suppliers. Diligent analysis is the key to making fair and equitable determinations for escalation requests. The session will provide tangible examples and encourage discussion and questions.
Our team is looking forward to sharing experience and insights this month. Learn more about HPM’s Audit & Advisory team before the conference.
