A large part of the total expenditures of a business originate in the procurement department. Given the volume of cash involved, it makes sense for a business to conduct ongoing audits of every procurement activity. In this procurement audit CPE course, we cover the main procurement processes, the controls applied to them, the most common forms of procurement fraud, and the different types of procurement-related investigations in which an auditor can engage.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the manner in which the corporate budget can be used as a procurement control.
Specify the various controls relating to the issuance of purchase orders.
Specify the controls applying to the proper recordation of supplier information.
Describe the different types of frauds that can arise from the procurement function.
Recognize the different types of procurement-related investigations in which an auditor can engage.
Major Topics
Procurement Process Overview
In-Process Procurement Controls
Procurement fraud Schemes
Procurement Negligence
Auditor Activities
Conflicts of Interest
Outsourcing Issues
