Auditing the Supply Chain and Contract Management

EVENT: Auditing the Supply Chain and Contract Management

DATE: February 16-18, 2022

VENUE: Sarova Woodlands Hotel, Nakuru

Procurement plays an important role in all businesses. The purchasing department is responsible for securing the resources needed by organizations. A well-run procurement department follows processes to ensure integrity each time a purchase is made especially when it comes to spending the company’s capital.

This seminar offers practical advice for auditing the procurement function, and it is intended to be of relevance for all types and sizes of organizations in the private sector, the not-for-profit or charitable sectors, local and national government, and international organizations.

This timely, seminar is designed for the accountant or internal auditor who has to be aware of how to approach auditing and improving the purchasing function.  Upon completing the course, participants will have a comprehensive understanding of how to execute an effective procurement audit.

The workshop will cover the following areas:

• Different terminologies used for describing the procurement functions within organizations
• Different role players in the procurement function
• Different processes within the procurement function
• Five critical success factors for high impact procurement functions and how to address these factors during an operational audit
• The value that internal audit can add to auditing a procurement function
• How to apply the COSO framework to audit the procurement function Important governance (policies and procedures) that should be evident in the procurement function
• Assess the adequacy of conflict of interest
• Controls that should be in place.

• Evaluating the tendering process

• Assessing the current internal controls
• Benchmarking the tender process
• Determining when to embark on a tender process

• Keys to effective inventory management
• Evaluate vendor or supplier management

• Contract management
• Vendor evaluations

• How to discover fraud (white collar/commercial crime) in the procurement process

• Using electronic data to find footprints of fraud

• Using data mining to find new patterns of fraud
• Using Benfords law to find false numbers
• Cover quoting as one of the techniques to commit fraud in the procurement function
• Definition of cover quoting
• Characteristics of cover quoting
• Different techniques used during cover quoting with examples
• Techniques used to discover cover quoting in the procurement function
• Making use of CAAT during the procurement audit

Who should attend?

• Those requiring a fundamental understanding of the subject
• Internal auditors who are already practicing internal audit and have a basic understanding of the subject
• Supervisory, competent and senior internal auditors
• Those who already have a sound, practical grasp of the fundamentals of internal auditing and manage staff

The workshop will be held from February 16-18, 2022 at the Sarova Woodlands Hotel, Nakuru. Charges are KES 50,000 and KES 55,000 exclusive of VAT for Members and Non-Members respectively. Members in attendance will earn 20 CPD points.

NATIONAL INDUSTRIAL TRAINING AUTHORITY ACCREDITATION:

The Institute of Internal Auditors Kenya is an accredited training provider with the National Industrial Training Authority (NITA). The NITA registration number is DIT/TRN/558(25b). Participants who are registered levy contributors can apply to NITA for reimbursement of their fees. This applies to Kenyan citizens and is subject to NITA regulations. Visit (https://www.nita.go.ke/ ) for more information.

BOOKINGS

To book this event, please call us on +254721615863/780615863, Email: info@iiakenya.co.ke and copy training@iiakenya.co.ke.