Auditing Purchasing Contracts

September
09
2025 (Tuesday)
Time 08:00 AM PDT | 11:00 AM EDT
Duration: 60 Minutes
57 Days Left To REGISTER
Instructor
Richard Cascarino

This is a great presentation for the beginner in business and also for accounting and finance professionals to learn how to analyze the financial statements of a company using ratio analysis.

Live
Recorded
Live + Recorded
Refund Policy

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 you should 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
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