Procurement Auditing

Procurement auditing is a thorough review of an organization’s purchasing processes to ensure they are efficient, transparent, and compliant with policies and regulations. It involves examining how goods and services are acquired, verifying that vendors are selected fairly, and that expenses are legitimate. The goal is to identify areas where procedures can be improved, prevent fraud or misuse of funds, and ensure value for money. Essentially, it’s an independent check to make sure the procurement activities align with organizational standards and legal requirements.