1. The document discusses the stages and purpose of contract auditing for long-term construction projects. It covers pre-contract investigations, currency of contract investigations, final contract investigations, and post-completion investigations. 2. Key aspects that a contract auditor examines include accuracy of costs and revenues recorded, recognition of contract profits and losses, and compliance with disclosure requirements in IAS 11. 3. A contract auditor needs an understanding of both financial and technical construction matters to effectively audit contracts and have meaningful discussions with other project professionals.

1. Audit of contracts