The union oceanic corporation – a fictitious company is formed mainly with the objective of oceanography with a focus on bioresearch, defense matters, oceanic exploitation, marine science, seasettling and sustainable energy. Its goal is to contribute to a sustainable, green future. Exploring the possibilities with settlements at sea is a wonderful opportunity to help contribute to creative ways of solving a lot of the earth’s problems of the year 2045. For this purpose it has mainly four departments. They are: the corporate division, the research division, seasettling division and defense division. The motto of corporate division is to exploit World Ocean relentlessly, the seasettling division is to have a Sound and sustainable settlements at sea, and the defense division focuses on security whereas the research division is profit, validity and quality. The Research Division conducts top-quality projects for a better world. Its one of the aims is to produce sustainable products and green energy. Thus, for this purpose a proper budget is allotted to every research project and all these budgets are evaluated at the end. This arise a need for a proper contract audit department. Thus, the union oceanic corporation has a well established contract audit department that takes care of all the formation of budgets and their evaluation and checks if all the debts have been cleared and the budget properly followed or not. Thus, the contract audit department is well equipped with experts who frame the budget, evaluate it and take care of the follow up action if required.