Auditing Purchasing Contracts

OVERVIEW

Contract management activities include administering and monitoring contracts/purchase orders after the award and during implementation. 

The objectives of a contracts audit are to determine the following: 

• To determine whether the procurement process is achieving desired outcomes. 
• To determine whether the contract management process is achieving desired outcomes. 

Inconsistent purchasing processes throughout the organization can lead to a reactive approach to contract management and can limit the organization's ability to fully monitor the procurement process.

WHY SHOULD YOU ATTEND?

• Need Recognition. The business must know it needs a new product, whether from internal or external sources
• Specific Need
• Source Options
• Price and Terms
• Purchase Order
• Delivery
• Expediting
• Receipt and Inspection of Purchases

AREA COVERED

• Contract Lifecycles
• Types of Contracts
• Critical Business Factors
• Major Risks
• What can go Wrong and Why
• Cost Plus Contracts
• Fraud by Vendors
• Fraud by Employees

WHO WILL BENEFIT?

• Internal Auditors
• Financial Managers
• Purchasing and Procurement Managers
• Operational Managers

SPEAKER PROFILE

Richard E. Cascarino, MBA, CIA, CISM, CFE, CRMA Well known in international auditing, Richard is a principal of Richard Cascarino & Associates based in Colorado, USA and Johannesburg, South Africa with over 32 years of experience in audit training and consultancy. He is a regular speaker to National and International conferences and has presented courses throughout Africa, Europe, the Middle East and the USA.

Others Details

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