Contract governance

KPMG was the first Big Four accounting, tax and advisory firm to set up a dedicated contract assurance practice. For more than a decade, our engagements have been helping organizations identify areas of non-compliance and recover associated potential losses.

Today, more than 500 full-time contract specialists in KPMG member firms in the UAE, KSA, Australia, Netherlands, United States, United Kingdom, and across Europe, Africa, Asia Pacific, and Latin America assist clients with their contract management to enhance performance and mitigate risk. 

We deliver strong returns on our engagements – we typically return 2-5% of the contract value or five times our engagement fee.

Our reviews identify historical recoveries, and avoid overpayments going forward. 

We assisted our client in reviewing the terms of a draft USD 0.5m mining operations contract.

The objective of this engagement was to review contract arrangements against best practice, identify any contractual challenges, and provide recommendations on key controls, and monitoring and evaluation mechanisms.

We made a number of observations and provided recommendations to improve our client’s oversight of the contract performance and transparency of contract expectations and costs

We worked closely with a global ENR company to perform Independent Financial Auditor services across their entire contract lifecycle of a major project, from contract establishment, through to project/commercial close out.

We identified approximately USD 8.5m of potential cost recoveries and highlighted other matters that assisted with negotiation of performance incentive contracts and commercial settlement with major construction contractors.