Month: March 2022

It is a requirement that the independent auditor obtain written representations from management as a part of an audit of procurement procedures performed and provides guidance concerning the representations to be obtained. In essence, the letter states that all of Read More …

Regular procurement audit procedures such as those described above may reveal conditions and events that indicate there could be substantial doubt about the entity‘s ability to continue as a going concern for a reasonable period of time. Examples of these Read More …

Regular auditing procedures that may identify conditions and events that indicate a going concern problem include the following: 1. Analytical procedures – Analytical procedures used as a substantive test or used in the planning and overall review stages of the Read More …

In the context of procurement audit, this is a report given by the auditor when he is not satisfied with explanations and information given, or thinks processes and activities are not in compliance with legal provisions and regulations governing public Read More …

1. Timely – It should be prepared and presented within the stipulated time period in the engagement letter. 2. Complete and Accurate – Should be based on factual and relevant information. 3. Objective – Conclusions reached and recommendations should be Read More …

1. The Title – The procurement audit report must have an appropriate title for the assignment undertaken. 2. Introductory Paragraph – The opening statement that identifies the procuring entity whose procurement systems and processes have been audited. 3. Addressee – Read More …