Global Learning for Operational Leaders
Introduction
Course overview
Procurement is one of the highest-risk areas in any organisation. Large sums flow through purchasing and contract processes, and weaknesses can lead to overpayment, poor value, favouritism, bid rigging, kickbacks and contracts that fail to deliver what was promised. Regulators, boards and the public expect procurement to be fair, transparent and well controlled.
This Auditing Procurement and Contracts training course gives auditors a structured, risk-based approach to reviewing the full procure-to-pay and contract life cycle. Participants learn how to audit needs identification, sourcing and tendering, supplier selection, contract award, contract management, variations, invoicing and payment.
The course places particular emphasis on fraud and corruption red flags, data analytics for procurement and how to add value by identifying savings and process improvements as well as control gaps.