Register online at: www.mistieurope.com

INHOUSETRAININGSave up to 50%

with In-House Training

Course Director: Jane Needham An independent consultant and trainer specialising in corporate governance, risk management and business process improvement.

Equipping internal auditors to review all aspects of the procurement process and its governance

AUDITING AND PREVENTING FRAUD IN PROCUREMENT

www.mistieurope.com/inhouse

Internal Audit

3 Day Course:

18-20 May 2015 London

27-29 September 2015 Dubai

The Global Leader In Audit and Information Security Training

Why Attend This Course?

n Deepen your knowledge of purchasing strategy, objectives and management.

n Understand best practice and expected controls.n Examine developments in purchasing processes and

technology and the risks these embody.n Learn how to approach Auditing and Preventing Fraud in Procurementfrom a risk-based perspective.n Uses the COSO Internal Control Model to practice applying

audit skills to a broad range of end-to-end procurement processes and activities.

n Develop skills in auditing the performance (“value for money”) of procurement processes.n Learn how to spot opportunities for providing consultancy advice that can add tangible benefit to the organisation’s bottom line and to the sustainable success and reputation of the organisation.

Equipping internal auditors to review all aspects of the procurement process and its governance

AUDITING AND PREVENTING FRAUD IN PROCUREMENT

Methodology Classroom lectures with interactive, relevant up to date case studies.

Course Director: Jane Needham

Jane Needham is an independent consultant and trainer specialising in corporate governance, risk management and business process improvement.

Jane’s career started by training as a Chartered Accountant with Ernst & Young in Manchester, and then working for a number of years at ICI plc, both in the Group Internal Audit function and in a finance line-management role. Jane then returned to her home island of Guernsey in the Channel Islands, where she was appointed Director of Risk & Assurance for the island’s government. As part of this role, Jane was Chief Officer of the States of Guernsey Audit Commission, a pre-cursor to the recently established island Public Accounts Committee. During her time with the Audit Commission, a statutory value-for-money review body, Jane carried out and commissioned a number of VFM / performance reviews into various aspects of island life.

Jane is a non-executive director of a custodian division of HSBC and a member of the Audit, Risk & Remuneration Committee for a regulatory authority. She recently sat as a member of the working party drafting the new National Occupational Standard for Risk Management in the Financial Services Sector. As well as a member of the ICAEW, Jane is also a member of the Institute of Risk Management and an associate member of the Institute of Internal Auditors.

Telephone: +44 (0)20 7779 8202 Email: mis@mistieurope.com

Course Focus And Features

With purchasing being the second largest spend for the majority of organisations (the first usually being labour costs), and with purchasing processes and methods becoming increasingly complex, and in some cases risky, the focusing of audit attention on procurement is to be expected. This highly practical course seeks to give auditors working in all types of organisation the necessary understanding of procurement processes, and the skills to provide robust assurance on those processes. Delegates will be taught how to assess the extent to which purchasing processes are both well-controlled and executed, but also designed in a manner which optimises economy, efficiency and effectiveness. This is essential in ensuring that organisations survive in an increasingly competitive and global market, and under increasing scrutiny. In the public sector, the need to demonstrate sound control of spending, and to maximise efficiency whilst ensuring exemplary conduct, is increasingly paramount. To this end, internal audit plays a crucial role. The course also provides opportunity to examine the ways in which a leading edge internal audit function can add value by spotting opportunities for providing consultancy advice in the procurement field. In all cases, a risk-based approach is adopted to ensure that audit attention is directed to the areas with the highest potential to impact on the organisation’s success and reputation. Delegates will carry out numerous exercises and case studies to reinforce the learning they acquire during the course, to ensure that they return to their work fully equipped to tackle all aspects of purchase audit.

Who Should Attend

Junior and senior auditors from the private, public and not-for-profit sectors

Prerequisite: None

Advanced Preparation: None

Training Type: Group-Live

Learning Level: Intermediate

CPEs: 24

Price: GBP £2,245+VAT**Delegates may be able to claim back VAT. Visit www.mistieurope.com/VAT for more information.

Telephone: +44 (0)20 7779 8202 Email: mis@mistieurope.com

Day Two:

Day Two uses the COSO Internal Control model as a basis forconsidering the different aspects of assurance required

Internal Audit: Providing Assurance over the Purchasing Process Internal Control Environment• Assessing the control environment and culture generally• Assessing the control environment in relation to purchasing Exercise: Applying aspects of Corporate Social Responsibility - Ethics,

Equity, Ecology - to the procurement process Risk Assessment• Identifying risks to each stage of the purchasing process• Auditing the identification, assessment and management of

purchasing risks Internal Control ActivitiesThis section of the course identifies standard controls, policies and procedures that an auditor would hope to see within the key components of the purchasing process, for example:• Purchase request• Purchase orders (covering areas such as e-procurement, • Receipts of goods or services• Payment for goods or services (covering issues such as purchase cards,

cash payments, online payments etc.)• Anti-fraud controls• Contract supervision Exercises Information and Communication• Assessing the extent to which information and communication processes within the organisation support the purchasing process and the organisation’s ability to react to purchasing control issues or risks. Monitoring• Auditing the extent to which internal and external monitoring and

oversight mechanisms support robust purchasing controls.• Considering the role performance measures play in directing audit focus.

Day One:

IntroductionOverview of Purchasing and the Role of Internal Audit• Objectives of Purchasing• The 3I’s of Sound Purchasing Practice• Legal frameworks• The Purchasing Life Cycle• Procurement streams (services, capex, consumables etc.)• Procurement methods (traditional, online, B2B, purchase cards etc.) The Role of Internal Audit in relation to Purchasing• An overview of the role and scope of internal audit in relation to

purchasing activity within the organisation.• Relevant auditing standards.• The Do’s and Don’ts

Differing Audit Approaches• Scheduled Audits • Open book auditing• Rolling audits• Ad hoc audits / spot checks• Automatic audits Exercise: Which to use where and when? Risk-based Internal Audit• Applying the risk-based audit approach to the purchasing process

Financial Audit vs. Performance Audit• Consider the extent to which audit can add value to the organisation

by expanding its purchasing audit coverage into value for money considerations.

Group Booking Discount**

3 delegates -

10% discount

2 delegates -

5% discount

4 delegates -

12% discount

5 delegates -

15% discount

**Available for delegates from one organisation attending the same course

Register online at: www.mistieurope.com

Day Three:

Putting Days One and Two’s learning into practice: Internal Audit: Purchasing Audit practice

Financial Audit of Purchasing• Evaluating the internal controls in place• Testing compliance with internal control processes Exercises: Various audit exercises on standard purchase areas and

controls, as well as some more detailed areas such as: purchase cards, buying online etc.

Performance (Value for Money) Audit in PurchasingAssess the extent to which the purchasing function is achieving:• Economy• Efficiency• Effectiveness• Ethics• Equity• Ecology Case Study Providing Consultancy for the Purchasing ProcessThis section considers opportunities for Internal Audit to provide consultancy to the business in relation to its purchasing activities, including:• Process mapping and improvement• Control and anti-fraud strengthening• Improving value-for-money • Purchasing system implementations• Purchasing strategy• Maintaining independence

TAILORED AND PERSONALISED IN-HOUSE TRAINING Why Choose In-House Training?Savings - Running an in-house course in your offices will ensure you avoid the costs of travel and accommodation. Plus we charge per day not per delegate. You can train six or sixteen people for the same price! Convenience - We can arrange a course that fits your team’s schedule. Any dates, any location, simply tell us what works best for you. Avoid the hassle of coordinating travel arrangements and accommodation for your staff Tailored training - We have over 150 existing training courses you can mould to fit your exact requirements or if you prefer we can just create a new agenda. You will have complete control over the course content Confidentiality - You can focus on potentially thorny issues that may be specific to your organization which are best resolved in private with the expert guidance of your course director

Some Of The Companies We Have Worked With:PwC • International Labour Office • Barclays • Capital One • Legal and General • Deloitte • European Court of Auditors • Lukoil • Credit Suisse AG • Euroclear • AIB • U.S. Steel, Corp. • Novartis • National Commercial Bank • Qatar National Bank

Visit www.mistieurope.com/inhouseCall us on 0207 779 8202Email mis@mistieurope.com

INHOUSETRAININGSave up to 50%

with In-House Training

“Clear, energetic and passionate about the subject. Jane was able to get the participation of all. Tip top quality”United Nations