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Internal Procurement Audit

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Overview

What

Conducting internal procurement audit which is the most crucial component in keeping control and ensure compliance of firm’s policies.

What for?

1
Plan and implement internal procurement audit program
2
Evaluation of procurement department and structure
3
Ethics and compliance in procurement
4
Reporting the outcome and findings of audit
5
Recommendations for better practices and improved benefit and value to the firm

Who's it for?

1
Corporates with procurement departments
2
Business owners who would like to keep control and have visibility
3
Procurement Function leads who wants a third party review

Features

Able to travel abroad
Able to travel domestic
Classroom training/workshop
On the job training
Online delivery
Documentation

Available Languages

English
Turkish

How It Works

Understanding Firm’s procurement function & operations
Evaluation of Anti-bribery, corruption and ethics policies and trainings
Accurate review of procurement projects both per process and financials
Detailed audit report of findings and executive summary
Follow-ups to ensure suggested improvements have been implemented

What Clients Ask

Q
Why do I need this, all financials reports looks great? Seems like waste of money!
A
We understand the financial hardships that the firms facing within the current economies. And we know that this is not specific to one country but rather happening globally. And this is the top reason why you must invest into outsourced audit of your procurement function. Properly functioning procurement department will be difference between revenue increase or financial debt.
Q
I am a small firm and do not have a procurement/purchasing department not have any policies. Can I still benefit from this solution.
A
Yes definitely. In fact, most of the times it is much better to start from scratch then try to fix what is broken and handle employees without open-mindset. We can start from creating procurement policies and procedures as well as auditing processes to keep control it efficiently.

Go Deeper

Background

Firms need to know how to review and optimize efficiency of their procurement functions. With an effective and structured internal audit program, you will see the power of procurement function within the firm and generate optimal ROI.

Market Practices

Forthe past few years global firms have realized that outsourcing the internal procurement audit works much efficiently than having a full time employee for auditing. Since auditing will be done by non-employees, you will have less employee issues, transparency in communication, fair and realistic look at the processes as well as being able to understand that each project has its own challenges and act accordingly.

Future Trends

Globally, firms are moving to automated solutions for everything. Especially where competitiveness has been growing globally, it will be imperative to think and act outside of the box and show your firm’s difference and added value into your industries. In order not to get caught up in disruption, you can choose an automated, cloud based procurement.

Locations

İstanbul, Turkey
Milan, Metropolitan City of Milan, Italy
New York, NY, USA
Barcelona, Spain
Online

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