ConstructionIndustryAuditTechniquesGuide(ATG)NOTE:ThisdocumentisnotanofficialpronouncementofthelaworthepositionoftheServiceandcannotbeused,cited,orrelieduponassuch.Thisguideiscurrentthroughthepublicationdate.Sincechangesmayhaveoccurredafterthepublicationdatethatwouldaffecttheaccuracyofthisdocument,noguaranteesaremadeconcerningthetechnicalaccuracyafterthepublicationdate.PublicationDate5/20091TableofContentsCHAPTER1:INTRODUCTIONTOTHECONSTRUCTIONINDUSTRY...........................................4INTENDEDAUDIENCE..................................................................................................................................4PARTICIPANTSINTHECONSTRUCTIONINDUSTRY.....................................................................................5THECONTRACTINGPROCESS....................................................................................................................8CONTRACTINCOME....................................................................................................................................9TYPESOFCONTRACTS...............................................................................................................................9BONDING...................................................................................................................................................10BUILDINGPERMITS...................................................................................................................................11NOTICEOFCOMPLETION..........................................................................................................................11CHAPTER2:LONGTERMCONTRACTS............................................................................................11BACKGROUND...........................................................................................................................................11LONGTERMCONTRACTDEFINED............................................................................................................12CONTRACTSSUBJECTTOIRCSECTION460..........................................................................................12CONTRACTSEXEMPTFROMIRCSECTION460......................................................................................12CONSTRUCTIONANDMANUFACTURINGCONTRACTS..............................................................................13INTEGRALCOMPONENTSOFREALPROPERTY........................................................................................14CONTRACTCLASSIFICATIONS..................................................................................................................14HYBRIDCONTRACTS................................................................................................................................15DEMINIMISCONSTRUCTIONACTIVITIES..................................................................................................16NONLONG-TERMCONTRACTACTIVITIES................................................................................................16RELATEDPARTYCONTRACT....................................................................................................................18SEVERINGANDAGGREGATINGCONTRACTS...........................................................................................
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