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Title:

Audit Stewardship and Oversight of Large and Innovatively Funded Projects in Europe
Cover of Audit Stewardship and Oversight of Large and Innovatively Funded Projects in Europe

Accession Number:

01054071

Record Type:

Monograph

Availability:

Federal Highway Administration

Office of International Programs, 1200 New Jersey Avenue, SE
Washington, DC 20590 United States

Abstract:

As transportation agencies undertake nontraditional, innovatively financed infrastructure projects, a concern among State and Federal managers is the effectiveness of the audit stewardship and oversight for these projects. The Federal Highway Administration (FHWA), American Association of State Highway and Transportation Officials (AASHTO), and National Cooperative Highway Research Program (NCHRP) sponsored a scanning study to document best practices used in England, France, Ireland, Portugal, and Spain in the stewardship and oversight of large, innovatively funded projects. The scan team observed that the terms of public-private partnership contracts have evolved as the European countries have gained experience in their use, and business models and evaluations have become an integral part of project selection and monitoring. To be effective, public sector project auditors in Europe need a range of skills, such as value engineering, business modeling, capital budgeting, and performance auditing. The team’s recommendations for U.S. implementation include developing a Web site on audit stewardship and oversight best practices. The team also recommends that FHWA and AASHTO provide consultation and training for auditors and other financial managers involved in major or innovative procurement contracts, including development of a project planning model and an audit procedures manual.

Report/Paper Numbers:

FHWA-PL-07-001

Contract Numbers:

DTFH61-99-C-005

Language:

English

Corporate Authors:

American Trade Initiatives

P.O. Box 8228
Alexandria, VA 22306-8228 United States

Federal Highway Administration

Office of International Programs, 1200 New Jersey Avenue, SE
Washington, DC 20590 United States

American Association of State Highway and Transportation Officials (AASHTO)

444 North Capitol Street, NW
Washington, DC 20001 United States

National Cooperative Highway Research Program

Transportation Research Board
500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Jeffers, John P
McDavid, C Lamar
Broadhurst, John V
Grosskopf, Karen R
Jones, Jerry J
Kamnikar, Edward G
Kamnikar, Judith A
Mayer, Jennifer R
Rosti, Carolyn
Scott, Betsy
Shumock, James H
Whitworth, Owen

Pagination:

56p

Publication Date:

2006-12

Media Type:

Web

Features:

Appendices (6) ; Bibliography; Figures (4) ; References (9) ; Tables (1)

Uncontrolled Terms:

Financial management; Stewardship

Geographic Terms:

England; Europe; France; Ireland; Portugal; Spain

Subject Areas:

Administration and Management; Construction; Finance; Highways; Research; I10: Economics and Administration

Files:

TRIS, TRB, USDOT

Created Date:

Jul 20 2007 2:39PM