Presentation of Procurement Audit to Stakeholders

Procurement and Audit notes revision

The table below shows the recommend format for presenting information on the procurement audit results to the procurement stakeholders

Elements Contents
1. Conditions of audit ·         name and time frame of the audit;

·         time    period   chosen    to   evaluate    the activities of the audited entity;

·         time limits for putting control, expert and analytical measures in place;

·         composition of those participating in the audit;

·         substantiation of the audit and authority of its participants;

2. The audit entities and domains: ·         audited entities;

·         domains (scope) of the audit and the authority of those participating in the measure to check them

3.   Data   used   in   the audit: ·         information used to carry out the audit;

·         information sources;

·         indicators provided the audited entity;

 

  ·         indicators used while conducting the audit
4. Methodology used: ·         types and forms of audit used;

·         international and national standards and guidelines used;

·         methodological techniques developed for the particular audit

5. The tools used to make measurements and evaluations: ·         the scales and criteria selected for making measurements and evaluations;

·         data processing methods used;

·         information    technologies    used                       while handling the information (data)

6. Audit results: ·         flowcharts of the activity of the audited entities;

·         results of data processing and evaluations for each type and form of the audit conducted and the audit domain;

·         risks evaluated and deficiencies uncovered, including their costs assessment;

·         visualization of results (if any)

7.        Findings         and recommendations: ·         auditor’s opinion – executive summary;

·         response of the audited entities;

·         corrective actions advised;

·         results of maintenance of the corrective action process;

·         final   result   and   recommendations   on follow-up actions

Source: INTOSAI Task Force (2016).

Review Questions

1. Outline five stakeholders in procurement audit
2. Discuss five Stakeholders in supply chain risk management
3. Explain the benefits of cross-functional teams in assessing, preventing and minimising supply chain risk.

4. Discuss five roles of procurement and supply function in mitigating potential risks in whole organisation
5. Discuss the roles and responsibility of risk stakeholders
6. Explain five roles of procurement auditors
7. Explain five roles of procurement auditees

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