AviationSector

Chartered Accountants providing cost assurance on major open book contracts

The Orange Partnership

Aviation

For the past two decades, we’ve been steadfastly supporting major clients in the UK aviation sector with robust cost assurance and a comprehensive range of additional services focused on defined costs.

Our longstanding collaboration with Heathrow Airport traces back to the Terminal 5 project, spanning over 20 years. This partnership was solidified in 2013 when we secured the Forensic Cost Assurance framework, a relationship that continues to thrive today.

We recognise and navigate the unique challenges and risks inherent in the aviation industry, particularly the intense external scrutiny placed on capital expenditure projects. Additionally, there are logistical hurdles involved in executing works within a live airport environment, with a constrained supply chain capable of mobilising and operating airside.

The imperative for cost efficiency has always been paramount in aviation. However, today the sector operates amidst profound uncertainty, stemming from Covid-19, Brexit, the evolving global and environmental landscape, and escalating fuel and energy prices. Achieving cost certainty in controllable areas has become more critical than ever.

Sector Expertise

The TOP Approach

To maintain the trust and confidence of stakeholders, robust corporate governance is essential. Cost assurance is an integral part of corporate governance. It involves a programme of independent, objective, and expert reviews.

We work with aviation clients and their contractors and suppliers, often over a number of years to reduce the risk of mischarging and drive accuracy of “right first time” contractor applications for payment.

Our audit approach and planning is fluid and cost effective, responding to risk. Our review work is targeted, and we have strong collaborative relationships with client Commercial Managers. We do not simply provide “bums on seat”. We focus our specialist assurance resources in the areas that add most value, so our client sees the greatest return for the lowest cost.

How we can help

Strategic reviews of current assurance provision
People actualisation audits
Project overspend reviews
Assurance over defined cost accuracy
Contractor set up and financial control reviews
Reviews of high value, high risk second tier subcontractors
Upskilling of in-house commercial staff and external Cost Consultants in best practice audit