Procurement and Contract Audit

Course objectives

• Plan a risk based audit programme covering the full procurement cycle
• Test compliance with procurement policy, thresholds and approval authorities
• Identify red flags for fraud, collusion and irregular expenditure in procurement files
• Evaluate contract management practices including variations and payment certification
• Write audit findings and recommendations that lead to real corrective action

Who should attend

• Internal and external auditors covering procurement functions
• Procurement compliance and quality assurance officers
• Risk management professionals in public and private organisations
• Finance staff responsible for expenditure verification
• Audit committee members and oversight staff

Course outline

1. 01Risk based planning for procurement and contract audits
2. 02Testing compliance with policy, thresholds and delegated authority
3. 03Sampling techniques and evidence gathering for procurement files
4. 04Identifying fraud and collusion red flags in tender and payment records
5. 05Auditing contract variations, extensions and payment certification
6. 06Reporting findings, tracking corrective actions and follow up audits

Scheduled sessions