Auditing Standards for Public Procurement

Auditing Standards for Public Procurement refer to the guidelines and principles that govern how public spending is examined and verified. These standards ensure transparency, accountability, and fairness in the procurement process, which involves the acquisition of goods and services by government entities. Auditors review the procedures and decisions involved in public contracts to ensure they comply with laws and regulations, help prevent fraud, and ensure that taxpayers’ money is spent efficiently. Essentially, these standards help maintain public trust in how government resources are managed and allocated.