SYNOPSIS
Procurement is one of the most important production / operation functions where timely delivery, meeting specifications and cost being as competitive as possible, are the keys to success. In most companies, especially in manufacturing and construction areas, procurement may represent as high as 50% of the operating cost.
All organizations purchase products and services, and the effectiveness of the procurement function will have a direct impact on the operations and the profitability of the organizations. Vendors and suppliers, being business entities, would try to get the best price, promise the best time and specifications to the buying organization and would do almost anything to close the deal. In this process, undesirable incidents conflicting the buying organization's interest such as fraud, could happen.
With proper and transparent procedures in place, a company would be able to ensure that this undesirable incident is eliminated and, that the organization gets the best deal out of every purchase it makes. As an internal auditor, auditing the procurement function is vital in order to ensure that proper control system is in place and procedures are complied with.
COURSE OBJECTIVE
At the end of the program participants will be able to;
-
Understand how poor procurement function will affect the operations/production
- Understand some of the best contracting strategies in procurement function
- Understand the risks associated with procurement
- Understand the various internal control systems in place
- Undertake an audit plan for a procurement function
- Implement an audit for a procurement function
- Write an audit report to the relevant authorities
METHODOLOGY
This program will be conducted by two-way lecturing, case study, group work and presentation.
FOR WHOM
This course is meant for internal auditor executives, managers and those who wish to improve
further their procurement function's effectiveness.
COURSE TOPIC
- Contracting Strategies
- Impact On Procurement To Bottom
Line
- Procurement Risks
- Procurement Control System
- Audit Plan For A Procurement
- Procurement Audit Implementation
- Findings Report Writing
DURATION
Two Days
FEES
Please contact our office for price negotiation
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