Construction
Rising costs and scarcity of labor impact the ability of construction companies to achieve their profit goals. Shortages resulting from natural disasters and rising demand in developing countries result in material price increases. Combined with rising fuel prices, margins are under constant pressure.
In this segment, establishing effective cost controls and achieving optimal project management are paramount. Sirius Solutions’ professionals are experienced in construction related issues and have developed sustainable solutions across multiple functional areas. Sirius consultants have delivered projects for internal controls documentation, human resources and staffing, compliance testing, tax considerations for financial hedging and tax software implementation.
In one engagement, Sirius partnered with a construction industry client to establish policies and procedures for their tax department, as well as correct system errors in their automated tax system. Account reconciliations were updated, tax returns were amended and employees were trained on the new procedures. In addition to lowering the risk of audit exposure, penalties and interest charges, the client filed refunds and credit requests for $300,000.
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