Apart from highlighting failures to follow rules in a procurement process, a procurement compliance audit flashes out deficiencies in procurement systems and procedures. Irregularities such as fraud and corruption are exposed in the manner goods and services are sourced.
WHY SHOULD YOU ATTEND?
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.
AREA COVERED
- Where Accounts Payable Come From
- Internal Control Audit Objectives
- General Controls over Acquisitions
- Processing checks Best Procedure
- Vendor Allowances
- Accounts Payable Fraud Red Flag
LEARNING OBJECTIVES
Understanding management and audit’s role in:
- Need Recognition. The business must know it needs a new product, whether from internal or external sources.
- Where Controls Can Fail
- Good Internal Control Procedures
- Receipt and Inspection of Purchases
- Potential Sources of Unrecorded A/P
- Red Flags in Purchasing/Inventory
WHO WILL BENEFIT?
Financial Accountants, Forensic Auditors, Internal Auditors, Financial Managers, Board members, Audit Committee members.
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.
- Where Accounts Payable Come From
- Internal Control Audit Objectives
- General Controls over Acquisitions
- Processing checks Best Procedure
- Vendor Allowances
- Accounts Payable Fraud Red Flag
Understanding management and audit’s role in:
- Need Recognition. The business must know it needs a new product, whether from internal or external sources.
- Where Controls Can Fail
- Good Internal Control Procedures
- Receipt and Inspection of Purchases
- Potential Sources of Unrecorded A/P
- Red Flags in Purchasing/Inventory
Financial Accountants, Forensic Auditors, Internal Auditors, Financial Managers, Board members, Audit Committee members.
Speaker Profile
Richard E 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 of 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 …
Upcoming Webinars
HR Metrics and Analytics 2026- Update on Strategic Planning…
Pivot tables beginner to advanced + 20 advanced Pivot table…
Writing Effective Job Descriptions
High-Impact Performance Management: Tools, Tactics & Coachi…
Human Factors Usability Studies Following ISO 62366 and FDA…
Validation Statistics for Non-Statisticians
Batch Record Review and Product Release
Fire Without Fear: How to Legally Terminate an Employee
FDA Regulation of Artificial Intelligence/ Machine Learning
Best Practices for FDA Computer System Audit Preparation in…
Empowering Conflict Resolution: Letting Go to Gain Control
The Importance of the first 5 seconds when presenting
Burnout to Fired-up : Recognizing and Preventing Burnout in…
Do's and Don'ts of Giving Effective Feedback for Performanc…
Managing Toxic & Other Employees Who Have Attitude Issues
Reduce Stress in the Workplace: Effective Ways to Handle Co…
Better Mind, Better Life: Unlocking Your Full Potential
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Why EBITDA Doesn't Spell Cash Flow and What Does?
Fostering a Culture of Respect: Eliminating Gossip, Rumour…
Stop Letting Toxic People Control Your Day
2026 EEOC & Employers: Investigating Claims of Harassment …
Human Error Trends as AI Enters GMP Operations: What QA Lea…
AI for Excel Professionals: Enhancing Productivity with Cha…