PROCUREMENT CONTRACT AND AUDITING

  • 03 Mar 2021 to 05 Mar 2021/
  • Procurement and Supply Chain Management

Most of the governments in the world are spending a huge amount of resources on Procurement, Projects, and Contracts. A contractual arrangement between the organization on one hand and third parties such as customers and vendors on the other hand is a permanent feature in many organizations. The successful implementation of the projects and hence the organization to a large extent is determined not only by the adherence to procurement and contract terms but also on the extent to which the contract risks are managed throughout the contracting process. Compared to downstream activities, upstream activities (specifical procurement) appear to receive much attention with an inordinate amount of resources spent on them. Little effort is put into the downstream activities. Yet many countries are littered with hundreds of unfinished or never-ending contracts, costing taxpayers millions of dollars. Internal auditors need to increase their knowledge and skills to enable them to undertake reviews and provide assurance on the effectiveness of both upstream and downstream activities including procurement and contract management. This will further enhance their advisory and consulting roles in procurement and contract management.

Course Objectives

  • Develop a checklist for procurement and contract auditing;
  • Learn approaches to contract and procurement audit;
  • Learn the tools and techniques for executing contract and procurement audit;
  • Learn how to execute risk-based contract and procurement audit;
  • Learn how to report and monitor contract and procurement audit
  • Learn how to successfully plan for contract and procurement audit;
  • Appreciate the contract upstream activities (e.g. procurement) and their impact on downstream activities;
  • Appreciate the role of internal auditing for the successful performance of procurement and contracts;

Course Content

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY ONE:

  • Nature and complexity of contracts;
  • Contract upstream and downstream activities;
  • Objectives of contract and procurement audit,

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY TWO:

  • Risk-based contract and procurement audit;
  • Checklist and readiness check for contract and procurement audit;
  • Planning and executing contract and procurement audit;

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY THREE:

  • Methods, tools, and techniques for contract and procurement audit;
  • Communication and reporting of contract audit

Targeted Group

The Training is designed for auditors, finance officers, accountants, and other officers whose work is closely related to procurement, contract, and project management.

  • Tour Package No
Course Price: 800,000/=

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