Auditing Procurement and Contract Management

Overview

TITLE:

Auditing Procurement & Contract Management

OVERVIEW:

Procurement is a critical, high risk activity for every organisation. Considerable energy and resources are invested in developing procurement strategies, processes and services. Procurement exercises are costly to run, contract management is often poorly undertaken and value for money is hard to achieve.

This course will show you how to provide effective, professional insight and internal audit assurance over this important area.

TARGET AUDIENCE:

This course has been designed to be relevant to internal auditors, audit managers and chief audit executives from every business sector – private, public and voluntary – and for delegates with varying levels of practical experience. It is of most relevance to those about to embark upon an internal audit of procurement, contract management and the associated risks, for those who manage audits in this area or for those wishing to stay up to date with topical developments and emerging areas of internal audit interest.

COURSE OBJECTIVES:

• Learn about the importance of procurement and contract management to organisations
• Provide guidance in setting up an audit work program for a procurement – & contract management audits

COURSE CONTENT:

A blend of theoretical, technical, discursive and practical approaches covering:

• procurement and its strategic relevance to organisations
• the objectives of strategic procurement
• operational procurement and the procurement cycle
• contract management
• developing an outline scope for an internal audit of procurement
• a comprehensive exercise covering risk identification and mitigation and the development of a RCM for an audit of procurement.

PREREQUISITES:

General knowledge of audit concepts and techniques