What is procurement audit?

Procurement audit is an audit of an organization's purchasing activities aimed at verifying efficiency, compliance with established policies and regulations, as well as identifying risks and violations in the procurement process.

Main objectives of procurement audit:

• Verification of compliance with procurement procedures and contractual obligations.
• Evaluation of resource utilization and costs.
• Identification of potential corruption risks and conflicts of interest.
• Analysis of compliance of procurement with legislation and internal regulations.

As a result of the audit, recommendations are formed to improve procurement processes, optimize expenses, and reduce risks.