Approaches to Procurement Audit

1. Financial approach
In this approach, the auditor may ask questions whether the procurement record and transactions have been truly and fairly reflected in financial statements.

2. Compliance approach
Auditors may raise questions as to whether the public procurement regulations comply with applicable laws and regulations

3. Performance approach
The auditor asks questions such as: Did the purchase process used and the allocated funds and corresponding results follow the main principles for value for money?

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