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Procurement Audit

A Formal evaluation of both supplier's performance of the contract, as well as the effectiveness of the procurement process itself and establishing a record that may be used to shape procurement practices in the contracts for the projects is very important in your organization. At JP Magson we recognize that the exercise is paramount to the achievement of primary objectives of procurement such as Value for Money (VFM), fair competition, transparency and accountability, and also help to identify weaknesses of the organization’s procurement system.
Most Countries have procurement laws that guide the conduct of procurement audits. For example in Uganda PPDA Act suggests  the conduct of procurement audits at the following levels; procurement audits during the bid preparatory process, contract audits in the course of the execution of an awarded bid and performance audit after the completion of the contract or any procurement or disposal as may be required.

Our professionals have skills required to conduct review of those risk management processes, control systems, accounting records and governance arrangements that impact on processes within the organization for acquiring goods, works and services. By doing so we;:

 

  • Review the organizations’ strategic objectives and how it plans to achieve these,
  • Review how the risks are captured in risk registers and the action plans that are in place when drawing the risk register and when documenting the internal audit strategy and plans.

We work closely with our clients to identify key procurement risks which may include;

 

  • Contracts not delivered on time or within budget
  • Failure to fulfill the need and/or meet stakeholders’ expectations
  • Procurement Fraud
  • Failure to secure value for money
  • Failure to reflect best practice
  • Failure to adhere to legislation or adequately accommodate equality and diversity
  • Organization fails to improve
  • Damage to reputation/image

We aim at achieving the expected procurement audit objective in the following categories:

 

Strategic
Achieve high level goals, aligned with and supporting the organisation’s vision and mission;
Operational
Executing ethical, economical, efficient and effective public procurement related operations; and safeguarding public funds against loss due to waste, abuse, mismanagement, errors, and fraud and other irregularities;
Reporting
Advocating development and maintenance of reliable management of procurement information and disclosure of that information in timely reports including fulfilling accountability obligations;
Compliance
Ensuring that procurement activities and processes are in accordance with the Proclamation, Directive, and other documents governing public procurement.