Audit is the process of verification and review of the payment of the project, through which the completion of the project can be assessed, whether the quality meets the requirements, the fulfillment of the contract, the rationality of the use of funds. Audit is generally carried out by a professional auditing organization or an independent third party, the purpose of which is to safeguard the compliance and quality and safety of the construction works.
After the audit is completed, the payment of the final payment is determined according to the audit results. If the audit results show that the project meets the requirements, there is no quality problems or contract fulfillment problems, then the tail payment can be paid to the construction unit in accordance with the contract. And if the audit results found that there are quality problems, progress problems or contract performance problems, then the payment of the final payment may need to be adjusted to protect the quality and progress of the project.
Therefore, the final payment of the project is not known until after the audit is completed, in order to ensure the quality of the project and the fulfillment of the contract, and to protect the rights and interests of the owner. At the same time, the audit can provide an objective and fair basis for the payment of the project and reduce potential risks and disputes.