How to Audit Procurement

A large part of the total expenditures of a business originate in the procurement department. Given the volume of cash involved, it makes sense for a business to conduct ongoing audits of every procurement activity. In the How to Audit Procurement course, we cover the main procurement processes, the controls applied to them, the most common forms of procurement fraud, and the different types of procurement-related investigations in which an auditor can engage.

Format

PDF Course

Level

Overview

Duration

1 Hour

Course Information

Author: Steven Bragg

Course Number: AU1025

Learning Objectives

Recognize the manner in which the corporate budget can be used as a procurement control.
Specify the various controls relating to the issuance of purchase orders.
Specify the controls applying to the proper recordation of supplier information.
Describe the different types of frauds that can arise from the procurement function.
Recognize the different types of procurement-related investigations in which an auditor can engage.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date: November 2025

Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.