The main objective of procurement audit is to ensure the procurement activities are done in an efficient, effective and economic manner within the provisions of the relevant regulations in the guidelines.
The objectives can be viewed in 4 dimensions as follows:
1 ) Strategic – They aim to achieve high level goals aligned with and supporting the organization vision and mission.
2) Operational – Executing ethical, economical, efficient and effective public procurement related operations and safeguarding public funds against funds against loss due to wastage, abuse, mismanagement and other irregularities.
3) Reporting – Advocating for development and maintenance of a reliable management of procurement information and disclosure of that information in timely reports including accounting obligations.
4) Compliance – Ensuring that procurement activities and processes in accordance to procurement by regulation, guidelines, policies and procedures governing procurement principals and best practices.