Overview of Procurement Audit and Risk Management
Complete notes on these subtopics are accessible at no charge by clicking on their titles
- Definition of Key Terms Used in Procurement Audit and Risk Management
- Definition of Procurement Audit
- Objectives of Procurement Audit
- Important Issues in Procurement Audit Cycle
- Importance of Procurement Audit
- Stages of Procurement Audit
- Procurement Audit as an Assurance /Compliance Engagement
- Difference between Procurement Auditing and Accounting
- Users of Audited Procurement and Risk Management Reports
- Advantages and Disadvantages of Procurement Audit and Risk Management
- Types and Timings of Procurement Audits and Reviews
- Risk Identification
- Types of Risks
- Sources of Risks
- Review Questions
Further Reading
Arens, A. A., M. S. Elder and R. J. Beasley. (2005). Auditing and Assurance Services (10th Edition) (Charles T Horngren Series in Accounting). Prentice Hall.
Association of Accountancy Bodies in West Africa (ABWA). (2009). Principles of auditing (ATS study text). West Africa.
BPP. (2009). Auditing Assurance, ACCA study text (4th ed.). London: BPP Learning Media.
BR Professional Education. (2013). Auditing and assurance, CPA study text. Nairobi: BR Professional Education.
CIPS (2012), Managing Risks in Supply Chain. 1st edition, Profex Publishers Limited. Stanford UK.
Gray, I., Manson, S. and Crawford, L. (2015) The audit process: principles, practice and cases. Sixth edition. Andover, Hampshire: Cengage Learning. Hayes, R., Dassen, R., Schilder, A., & Wallage, P. (2005). Principles of auditing An Introduction to International Standards on Auditing (2nd ed.). London: Pearson Education Limited.
INTOSAI Task Force (2016). Public Procurement Audit Practical Guide.
Kenneth Lysons and Brian Farrington (2012), Purchasing and supply chain Management, 8th Edition, Pearson Education Limited, Harlow, England
Professional Education. (2012). Auditing and assurance, CPA practice and revision kit. Nairobi: BR Professional Education media press.
Professional Education. (2013). Auditing, ATC Study Text. Nairobi: BR Professional Education media press.
Further Reading
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