Independent research shows that excellent supply chain management can yield:

• 25-50% reduction in total supply chain costs
• 25-60% reduction in inventory holding
• 25-80% increase in forecast accuracy
• 30-50% improvement in order-fulfilment cycle time
• 20% increase in after-tax free cash flows

Internal Audit can add value by auditing SCM to ensure these benefits realise e.g. the success factors are managed

Course Objectives:

Attendees to this course will be able to:

• Understand the reason why supply chain management is so important in any organisation
• Recognise the roles and responsibilities of all role players in supply chain management
• Distinguish between the different processes during supply chain management
• Realise the value that internal audit can add during supply chain assurance and consulting engagements
• Consider the possibility of fraud in supply chain management and identify the appropriate audit procedures to identify the fraud red flags

Course Content

• Definition of Supply Chain Management
• Different role players in the procurement function
• Legislative environment in Government Supply Chain Management
• Different processes within the procurement function
• Five critical success factors for high impact procurement functions and how to address these factors during an operational audit
• Demand management
• Acquisition management
• The value that internal audit can add to auditing a procurement function

• How to apply the COSO framework to audit the procurement function
• Important SCM policies and procedures
• Assess the adequacy of conflict of interest
• Evaluating the tendering process
• Keys to effective inventory management
• Evaluate vendor or supplier management
• How to discover fraud (white collar/commercial crime) in the procurement process

Continuous practical examples and case studies

Who should attend?

Internal auditors who want to understand the principles of supply chain management and get more exposure to the appropriate internal audit procedures for supply chain management as well as the audit procedures to identify fraud red flags.

Please be advised of the event terms and conditions.
Delegates are also requested to review the content and the levels of the courses presented before booking, to ensure they are attending the right course.