Contract Auditing: Soup to Nuts

GoldSRD
Training overview
8 hours
Next start date: Inquire for more information - Worldwide
On-site / Company-specific

Course description

Contract Auditing: Soup to Nuts

Contracts and contracting are a way of life for all governmental agencies. We rely on third parties more than ever in areas such as consulting, technology, real estate, security, maintenance, construction, joint ventures, benefits administration and advertising. With this increased reliance has come increased exposure and internal audit must take an active role in auditing contracts to verify compliance and keep costs in check.

Objectives:

  • Understanding of the how to audit contracts and how to apply these learnings to create an effective workprogram
  • General contract terms and leading practices
  • How to write a Right to Audit clause

Who should attend?

Auditors who would like more detail and specifics on how to audit contracts (NASBA Field of Study: Auditing).

Training Content

Agenda:


  1. Introduction

    1. Understanding the Basic Contracting Process
    2. Common issues in contracting and issues in auditing contracts
    3. Introduction to Case Study

  2. Exposures and Opportunities

    1. Key elements of the contracting process
    2. Contract components – what and why
    3. Exposures in contracting
    4. Contract audit findings

  3. Basics of Contract Auditing

    1. Contract audit objectives and strategy
    2. Audit Planning and Assessing Risk
    3. Developing a Contract Audit Program/Checklist



  1. Fraud Considerations of Contract Auditing

    1. Key Areas of Fraud Risk
    2. Fraud Detection

  2. Auditing Costs

    1. What are relevant costs
    2. Common cost exceptions and how to find them

  3. Leading Practices

    1. Tools and Procedures
    2. Leveraging technology in contract auditing
    3. Building a Leading Practice Contract Template

Costs

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About GoldSRD

GoldSRD

GoldSRD

GoldSRD is a leading provider of high-quality, interactive professional development. We have over 200 full-day courses on technical capabilities (Internal Audit, Accounting, Finance, IT Audit and Microsoft-Office specific courses) and People-Centric (“soft”) skills. Our Founder, Danny M. Goldberg, is a...


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Contact info

GoldSRD

2641 Pine Springs Drive
75093 Dallas Texas

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www.goldsrd.com

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