Role of Procurement Auditors

1) To provide true and fair view on procurement transactions and procedures to the procurement shareholders.
2) Identifies and assesses the risks of material misstatement of the procurement records, whether due to fraud or error, designs and performs audit procedures responsive to those risks, and obtains audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
3) Evaluating and understanding the procurement internal control system
4) Performing analytical procedures on expected or unexpected variances in classes of procurement transactions
5) To ascertain that procurement procedure have been followed
6) To assist investigators into the company’s affairs by providing his working papers, which are summaries of significant matters the auditor identified during the audit.