Risk management & consulting

Risks abound in the construction and real estate industry. The financial, logistical, operational and safety risks of construction projects require contractors to maintain high insurance and bonding coverage, implement effective and accurate accounting policies and procedures, and comply with numerous regulations covering everything from wages to equipment.

Managing those risks while maintaining profits can be a tedious process. Thankfully, the risk management experts at Watkins Meegan recognize what’s at stake for your company. With our full suite of risk services, we’ll help you strike the best balance between risk and return.

Our specialty risk services include: 

• Insurance coverage analysis 
• Lien rights analyses
• Construction cost audits
• Bankruptcy assistance
• Internal control reviews
• FDIC insurance limitations
• Certificate of Deposit Account Registry Service (CDARS)
• Davis-Bacon Act compliance

Bonding risk analysis
The bonding relationship between a contractor and an agent may tie up the owners with too much risk. As a contractor’s business grows and experience is attained, certain indemnifications may be reduced or eliminated through negotiations. Having a firm, like Watkins Meegan, that prepares a company’s financials as supporting documentation will provide added ammunition in discussions with the bonding agent.

Accounting policy and procedure development
Growth in revenues and size are goals of any small business, and possible aspirations of larger businesses. As a company grows, the accounting policies and procedures need to mature with it. Failing to partner the development of accounting policy with the expansion of business could be very costly. Watkins Megan will help you provide for this growth in order to prevent costly catch-up expenditures down the road.