- Deepen knowledge of purchasing strategy, objectives and management.
- Understand best practice and expected controls.
- Examine developments in purchasing processes and technology and the risks these embody.
- Learn how to approach auditing procurement from a risk-based perspective.
- Uses the COSO Internal Control Model to practice applying audit skills to a broad range of end-to-end procurement processes and activities.
- Develop skills in auditing the performance (“value for money”) of procurement processes.
- Learn how to spot opportunities for providing consultancy advice that can add tangible benefit to the organisation’s bottom line and to the sustainable success and reputation of the organisation.
With purchasing being the second largest spend for the majority of organisations (the first usually being labour costs), and with purchasing processes and methods becoming increasingly complex, and in some cases risky, the focusing of audit attention on procurement is to be expected.
This highly practical course seeks to give auditors working in all types of organisation the necessary understanding of procurement processes, and the skills to provide robust assurance on those processes. Delegates will be taught how to assess the extent to which purchasing processes are both well-controlled and executed, but also designed in a manner which optimises economy, efficiency and effectiveness. This is essential in ensuring that organisations survive in an increasingly competitive and global market, and under increasing scrutiny.
In the public sector, the need to demonstrate sound control of spending, and to maximise efficiency whilst ensuring exemplary conduct, is increasingly paramount. To this end, internal audit plays a crucial role.
The course also provides opportunity to examine the ways in which a leading edge internal audit function can add value by spotting opportunities for providing consultancy advice in the procurement field.
In all cases, a risk-based approach is adopted to ensure that audit attention is directed to the areas with the highest potential to impact on the organisation’s success and reputation. Delegates will carry out numerous exercises and case studies to reinforce the learning they acquire during the course, to ensure that they return to their work fully equipped to tackle all aspects of purchase audit.
Course Director - Jane Needham
Specialising in corporate governance, risk management and business process improvement. Jane’s career started by training as a Chartered Accountant with Ernst & Young in Manchester, and then working for a number of years at ICI plc, both in the Group Internal Audit function and in a finance line-management role. Jane then returned to her home island of Guernsey in the Channel Islands, where she was appointed Director of Risk & Assurance for the island’s government. As part of this role, Jane was Chief Officer of the States of Guernsey Audit Commission, a pre-cursor to the recently established island Public Accounts Committee. During her time with the Audit Commission, a statutory value-for-money review body, Jane carried out and commissioned a number of VFM / performance reviews into various aspects of island life.
Jane is a non-executive director of a custodian division of HSBC and a member of the Audit, Risk & Remuneration Committee for a regulatory authority. She recently sat as a member of the working party drafting the new National Occupational Standard for Risk Management in the Financial Services Sector. As well as a member of the ICAEW, Jane is also a member of the Institute of Risk Management and an associate member of the Institute of Internal Auditors.
Comments from attendees of other courses run by Jane:
“Clear, energetic and passionate about the subject. Jane was able to get the participation of all. Tip top quality”
United Nations, Rome
“The course was exactly what I required”
King Faisal Hospital, Saudi Arabia
“Excellent presentations skills. Good balance between theory and examples”