Auditing Purchasing Contracts
Date:
Tuesday, September 9, 2025
Time:
08:00 AM PDT | 11:00 AM EDT
Duration:
60 Minutes
More Trainings by this Expert
Product Id : 507478
Price Details
Live: One Dial-in One Attendee
Corporate Live: Any number of participants
Recorded: Access recorded version, only for one participant unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Corporate Recorded: Access recorded version, Any number of participants unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Overview:
Contract management activities include administering and monitoring contracts/purchase orders after the award and during implementation.
The objectives of a contracts audit are to determine the following:
- To determine whether the procurement process is achieving desired outcomes
- To determine whether the contract management process is achieving desired outcomes
- 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
Why should you Attend:
The main stages in any purchasing process include:
- Need Recognition. The business must know it needs a new product, whether from internal or external sources
- Specific Need
- Source Options
- Price and Terms
- Purchase Order
- Delivery
- Expediting
- Receipt and Inspection of Purchases
Areas Covered in the Session:
- Contract Lifecycles
- Types of Contracts
- Critical Business Factors
- Major Risks
- What can go Wrong and Why
- Cost Plus Contracts
- Fraud by Vendors
- Fraud by Employees
Who Will Benefit:
- Internal Auditors
- Financial Managers
- Purchasing and Procurement Managers
- Operational Managers
Speaker Profile
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 to 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 of Certified Fraud Examiners, where he was a member of the Board of Regents for Higher Education.
Richard was Chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health) in Johannesburg and was also the Chairman of the Audit and Risk Committee of the Department of Public Enterprises in South Africa
