Procurement plays a critical role in every organization’s ability to meet its goals and objectives, yet it also constitutes a high-risk function. Purchasing activities typically represent a large percentage of revenues and take many forms in the procurement of goods, services and supplies required to meet everyday business needs. These items must be acquired efficiently and at an optimal price to keep production and service activities in motion without disruptions.

This seminar will examine the risks inherent in the procurement function, the strategic alliances that are often made, the information systems used, the management processes it affects and the bidding, vendor selection and contracting processes. Participants will acquire the knowledge and practical skills to perform value-added audits of this critical business function.

Prerequisite: None                       Advance Preparation: None
Learning Level: Intermediate         Field: Auditing
Delivery Method: Group-Live