Course Objectives:

By the end of this course, participants will:

1. Understand the principles and best practices of auditing procurement and contracts.
2. Develop skills to evaluate procurement processes and contract management for compliance and efficiency.
3. Identify risks, inefficiencies, and irregularities in procurement and contract operations.
4. Learn to apply auditing techniques to assess supplier selection, contract terms, and execution.
5. Prepare actionable audit reports and recommend improvements to enhance procurement integrity and performance.

Course Syllabus:

Day 1: Fundamentals of Procurement and Contract Auditing

1. Introduction to Procurement and Contract Auditing
2. Procurement Life Cycle Overview
3. Legal and Regulatory Frameworks
4. Workshop: Mapping the Procurement Life Cycle

Day 2: Auditing Procurement Processes

1. Procurement Planning and Vendor Selection
2. Tendering and Bidding Process
3. Procurement Records and Documentation
4. Practical Exercise: Auditing a Sample Procurement Process

Day 3: Auditing Contract Management

1. Contract Formation and Terms
2. Contract Performance and Monitoring
3. Risk Management in Contracts
4. Case Study: Analyzing Contract Management Issues

Day 4: Risk, Fraud, and Ethical Considerations

1. Fraud Detection in Procurement and Contracts
2. Ethics in Procurement Auditing
3. Risk Assessment in Procurement Audits
4. Workshop: Risk and Fraud Detection in Procurement

Day 5: Reporting and Recommendations

1. Preparing Audit Reports
2. Presenting Audit Results
3. Capstone Project: Comprehensive Audit of Procurement and Contracts