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Auditing Purchasing Contracts
- 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
Overview of the webinar
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.
Who should attend?
- Internal Auditors
- Financial Managers
- Purchasing and Procurement Managers
- Operational Managers
Why should you attend?
The main stages in any purchasing process include:
- 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
Faculty - Mr.Richard Cascarino
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 experience in audit training and consultancy.
He is a regular speaker at National and International conferences and has presented courses throughout Africa, Europe, the Middle East, and the USA.
Richard is a Past President of the Institute of Internal Auditors in South Africa, was the founding Regional Director of the Southern African Region of the IIA-Inc, and is a member of ISACA, and the Association of Certified Fraud Examiners, where he is a member of the Board of Regents for Higher Education.
Richard was Chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services, and Health) in Johannesburg and was also the Chairman of the Audit and Risk Committee of the Department of Public Enterprises in South Africa.
He is also a visiting Lecturer at the University of the Witwatersrand, and author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing and now in its 3rd edition. This book is extensively used as a university textbook worldwide. In addition, he is the author of the "Auditor's Guide to IT Auditing" published by Wiley Publishing, now in its 2nd edition, and the book "Corporate Fraud and Internal Control: A Framework for Prevention", also Wiley Publishing. He is also a contributor to all 4 editions of QFINANCE, the UItimate Resource, published by Bloomsbury, and is the author of "Data Analytics for Internal Auditors" published in 2017 by Auerbach.
Credits
ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org