With public interest in sustainability and fair wages on the rise, and the recurrence of headline-grabbing accidents, construction firms and developers confront a growing regulatory burden.
K2 Intelligence is uniquely qualified to help you manage it, along with contract stipulations. The reason: We leverage the experience and expertise of Thacher Associates, which we acquired in 2012.
Thacher pioneered the monitoring of high-profile construction projects in the 1980s to thwart fraud and corruption for New York’s Construction Industry Strike Force. Now we can be part of your company’s team, supporting in-house or outside counsel, or your compliance organization, or functioning as an outsourced compliance unit.
Our compliance services generally focus on one of three areas:
Regulatory Compliance: We help you conform to legal and regulatory requirements at the federal, state, and local levels. Typical areas of focus are:
We understand construction, including the need for quick decisions. So we make compliance business-friendly. Controls that create transparency but don’t get in the way of getting the job done.
- Health and safety
- Environmental protection
- Payment of prevailing wages
- Procurement of U.S.-made products
- Provision of affordable housing
- Set-asides for businesses owned by minorities, women, and members of other disadvantaged groups
- Contractual Compliance: We help you assure adherence to contract terms and assure that your business partners don’t manipulate contracts and that they fulfill their obligations to you. Areas of focus include consistency of billing and payments with contract terms. Areas of growing importance are LEED standards for sustainable construction and emerging requirements for cybersecurity.
- Best Practices Consulting: We help you implement practices shown to maximize performance. Areas of focus include procurement and contracting as well as financial controls, where our forensic accountants prove particularly valuable. We can help companies already employing best practices enhance them to stay competitive as they grow.
We Follow Through and Help You Do So
Our compliance solutions typically entail three stages:
- Conducting risk assessments, including tests of internal controls in procurement and other areas that minimize the ability of people to engage in breaches, and evaluation of your current compliance.
- Enhancing existing policies, procedures, and controls and developing new ones, including training programs and employee hotlines.
- Ensuring these measures are being implemented—leveraging our experience with integrity monitoring to monitor your compliance with your program.
Many of our competitors are fine on the first two phases but, lacking our experience, fall short on the third.
The compliance programs we help put in place include four elements:
- Codification: Putting in writing the requirements that must be met and indicators of noncompliance.
- Responsibilities: Specifying the individuals to be held responsible and accountable for compliance with each requirement.
- Procedures: Identifying the specific steps each such individual must take to ensure compliance.
- Documentation: Establishing the records the individuals must keep to demonstrate compliance.