2022 - 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.
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