Process for Performing a Vendor/Contract Audit: What Should be Considered

Attend this webinar to learn about the different contract terms, different ways to determine the scope of the audit given contract terms and conditions, how to plan, perform and report results of a vendor audit.

Why Should You Attend:

With an increased focus on outsourcing services within organizations, awareness of contract terms and conditions and how to audit them are invaluable to organizations. Taking a proactive stance on performing vendor audits on contracts can result in real dollar savings to organizations, not to mention invaluable comfort to Management that outside vendors are performing in accordance with terms and conditions of given contracts. This course will provide you with a basic understanding of different contract terms, different ways to determine the scope of the audit given contract terms and conditions, how to plan, perform and report results of a vendor audit. Examples of templates will be provided for every step of the audit process.

Learning Objectives:

• To understand how to perform vendor/contract audits and start to finish instructions and templates on how to perform this type of audit given the risks involved in contracts.

Areas Covered in the Webinar:

• Identify and collect essential pre-audit background information
• A basic understanding of the most popular types of contract terms and conditions
• The process of reviewing contracts to develop audit objectives
• Turning audit objectives into audit steps and an audit program - Audit Planning
• Reviewing the contract and putting together a "Contract Brief"

Who Will Benefit:

• Internal Audit personnel involved in audits of third-party contracts
• Internal Audit Management
• Professionals responsible for performing third-party contract audits
• Management concerned with vendor performance