Overview

Course OverviewUnleash your internal audit potential and protect your organization's resources with this in-depth course on auditing the purchasing function. Whether you're a beginner or an experienced auditor, this course provides invaluable insights and actionable strategies to ensure the integrity and efficiency of your purchasing processes.What You'll LearnThe Fundamentals of Purchasing: Understand the core elements of the procurement process, setting the foundation for effective audits.Common Purchasing Risks: Identify and mitigate supplier risk, pricing risk, quality risk, compliance risk, and fraud risk.Pre-Audit Essentials: Master the crucial preparatory steps to optimize your audit strategy.Stage-by-Stage Auditing: Learn how to audit every phase, including requisition, RFQ, purchase order, acceptance/inspection, and invoice/payment.Segregation of Duties: Ensure control effectiveness and fraud prevention with a deep dive into this critical concept.Downloadable Materials:Lecture 1 - The Purchasing Function - Direct vs. Indirect ProcurementLecture 2 - Introduction to Internal Audit of PurchasingLecture 3 - Common RisksLecture 4 - Essential Preparation for a Successful Purchasing AuditLecture 5 - A Complete Guide for Purchasing AuditLecture 7 - Internal Audit Program for PurchasingLecture 9 - Purchasing Internal Audit Checklist QuestionsBenefits for YouProtect Your Organization: Reduce financial losses and reputational damage by uncovering vulnerabilities and implementing strong controls.Improve Efficiency: Identify bottlenecks and opportunities for streamlining the purchasing process.Enhance Compliance: Ensure adherence to internal policies, external regulations, and industry standards.Build Confidence: Gain the knowledge and skills to conduct effective purchasing audits independently.Who Should EnrollInternal auditors at all levelsProcurement professionalsCompliance officersRisk management specialistsAnyone interested in safeguarding their organization's resourcesInstructor Credentials:Salih Ahmed IslamCIAMBAInternal Audit Beacon Award Winner of 202326 Years of Internal Audit ExperienceEnroll Today and Become a Purchasing Audit Expert!

Skills

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