Auditing Skills: Contract Audit

Course Overview

An area of increasing concern to all organisations is the integrity of their systems and procedures for letting work to outside contractors and suppliers. This course provides a basic introduction to contract procedures and processes and will identify areas of concern for auditors and highlight the potential for inefficiency, ineffectiveness and the possibilities for contract fraud.

Course Outline

REVIEW OF PROCUREMENT PROCEDURES

• Specification
• Short listing and select lists
• Tender evaluation and award of contracts
• Contract monitoring

CONTRACT AUDIT PROCEDURES

• Risk assessment and identification of key areas
• Monitoring economy, efficiency and effectiveness of contract procedures
• Audit review and tests

CONTRACT FRAUD

• Potential areas
• Warning signs
• Case studies
• Prevention and detection