Course Information
Contract Auditing
Parking for SAO, Professional Development courses is in Garage B (1511 San Jacinto Blvd.). The Garage signage may read 1511 San Jacinto or Garage B. The elevator in Garage B is not reliable. If you are unable to walk the stairs, please contact the professionaldevelopment@sao.texas.gov for alternate parking arrangements. Handicapped parking is free at the meters around the downtown area.
A course coordinator will email you a parking permit prior to the course start date. A permit must be displayed or you will be ticketed.
Course Description
Contracts and contracting are a way of life for all governmental agencies. We rely on third parties more than ever in areas such as consulting, technology, real estate, security, maintenance, construction, joint ventures, benefits administration, and advertising. With this increased reliance has come increased exposure and internal audit must take an active role in auditing contracts to verify compliance and keep costs in check.
Course Objectives
Objectives:
• Understanding of the how to audit contracts and how to apply these learnings to create an effective work program
• General contract terms and leading practices
• How to write a Right to Audit clause
Outline:
I. Introduction
a. Understanding the Basic Contracting Process
b. Common issues in contracting and issues in auditing contracts
c. Introduction to Case Study
II. Exposures and Opportunities
a. Key elements of the contracting process
b. Contract components – what and why
c. Exposures in contracting
d. Contract audit findings
III. Basics of Contract Auditing
a. Contract audit Objectives and strategy
b. Audit Planning and Assessing Risk
c. Developing a Contract Audit
Program/Checklist
IV. Fraud Considerations of Contract Auditing
a. Key Areas of Fraud Risk
b. Fraud Detection
V. Auditing Costs
a. What are relevant costs
b. Common cost exceptions and how to find them
VI. Leading Practices
a. Tools and Procedures
b. Leveraging technology in contract auditing
c. Building a Leading Practice Contract Template
Prerequisites
Prerequisite not required.
Instructors
Tali Ploetz is an industry recognized expert in governance, risk, internal audit, fraud and compliance. Her personal mission is to provide practical training and advice designed to strengthen team member skillsets and improve corporate internal control environments to ultimately prevent issues/internal control breakdowns.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.
If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.
To see answers to our Frequently Asked Questions, visit Texas State Auditor's Office - Professional Development FAQs