Auditing Procurement and Contract Management

OVERVIEW:

Procurement is a key activity for every organization. Developing the right procurement strategies maybe intense but can lead to great added value for an organization.

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 and audit managers. It is of most relevance to those about to embark upon an internal audit of procurement, contract management and the associated risks. 

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, 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