Advanced Auditing for Contracts and Procurement

OBJECTIVE
Participants will be exposed to the legal requirements necessary to form a contract and procurement, advanced areas of contract law and auditing. If you are interest in planning an effective audit of various contracts within your organization, this workshop is for you.

CONTENT
*Sources of Contract Law
· Areas of Contract Information
· How Contract reduce organizational Risk
· Identify the Audit Related purpose

*Contract Components
· What Constitutes offer and acceptance of a contract
· Determine whether a contract exists
· Define consideration as a component of contracts
· Illegal provisions which render contracts void

*Planning the Audit of Contracts
· Planning an Audit of Contracts
· Approach to Flowcharting the process
· Integration of Contract valuation
· Risk Assessment and Plan a Walk Through

*Selecting Audit Samples of Contracts
· Financial Statements to be considered
· Sampling Strategies and Techniques
.· Risks in Limiting Audit Scope
· Sources of Information Regarding Deficiencies with contracts

*Reforming Control and Substantive Tests
· Contract type, Identify key Controls
· Compare and Contract General Substantive Tests and
Contract Specific
· Materiality when performing audit Steps
. Combining test if controls with substantive tests

FOR WHOM: All Internal Auditors in both the Public and Private Sectors.
METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 11th – 14th Mar, 2025
2ND BATCH: 9th – 12th Sept, 2025