experience

Carol Frey has over 24 years of experience in Contract Compliance, Data Analytics, and Accounts Payable Auditing. Carol has a specialized focus on the construction industry and has performed over 60 GMP audits ranging from $80 - $800 million. Carol’s specialty includes real-time monthly General Contractor pencil copy pay application review. Along with generating significant revenue for Fortune 500 clients, Carol consistently brings value to clients by creating an environment of trust and respect with both clients and suppliers.

Carol has a Doctor of Business Administration-Business Intelligence, adding an expertise in analyzing big data from disparate client systems to achieve actionable information needed for informed business decisions. Carol also has a Master of Science with emphasis in Fraud Examination, providing expertise in identifying red flags of fraud and fraud risk. 

Carol has provided audit and consulting services to several Fortune 500 clients in construction, healthcare, pharmaceutical, financial services, and manufacturing industries. Clients include Amazon, Amgen Pharmaceutical, University of Illinois, Walgreens, Wal-Mart, CitiFinancial, and Sprint. Prior employers include PRGX USA, Curtiss Wright, and UPMC. Specialized construction audit areas include allowances, change orders, general conditions, insurances, labor rate buildup components, allocated costs, material substitutions.

– Currently working as embedded auditor on a 6-year, $1.5 billion air cargo hub project consisting of 920 acres for a “ground up” construction project to include a three-million-square-foot sorting facility and parking space for over 100 cargo aircraft along with related public road improvements. Monthly review of general contractor pencil-copy pay applications has resulted in over $10 million of unallowable costs removed from the invoices prior to payment.

– Performed a contract audit of a $134 million hospital ground-up project of UPMC East in Monroeville, Pennsylvania. The audit identified unallowable and excess general conditions costs relating to labor rate buildup invoiced to the owner.

– Provided contract audit for architectural services related to a multi-million-dollar construction project. The contract was cost plus with NTE but was being managed and invoiced as percent complete of the NTE. Audit services resulted in the credit of over $1 million dollars in excess billings. 

– Performed construction cost audits for a public university under a 5-year engagement. Scope of audit includes approximately 30 projects per year, ranging from small remodeling projects to large capital improvement projects in excess of $70 million.