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Inside The IIA's Updated Global Practice Guide: Auditing Public Sector Procurement

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Inside The IIA's Updated Global Practice Guide: Auditing Public Sector Procurement

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The Institute of Internal Auditors Presents: All Things Internal Audit In this episode, Pam Strobel Powers and Mark Maraccini discuss The IIA's recently updated Global Practice Guide Auditing Procurement in the Public Sector. They walk through the three pillars that make public sector procurement unique, explain how to distinguish a vendor from a subrecipient, and share why fraud risk in procurement deserves its own lane in your audit approach. *Members Save in May* Members can save 20% on CIA, CRMA, and IAP application and exam fees throughout May. Becker, the official CIA exam review partner of The IIA, is also offering up to 20% off CIA exam prep and $50 off IAP prep. Use the code May20% and access the offer here. HOST: Pamela Stroebel Powers, CIA, CGAP, CRMA, CPADirector of Professional Guidance, Public Sector, The IIA GUEST: Mark Maraccini, CIA, CPA Partner, Crowe LLP Member, International Internal Audit Standards Board KEY POINTS: Introduction [00:00:02 - 00:00:30] What Makes Public Sector Procurement Unique [00:01:07 - 00:04:16] Transparency in Procurement [00:01:37 - 00:02:42] Fairness and Equity in Procurement [00:02:42 - 00:03:31] Legal and Regulatory Compliance [00:03:31 - 00:04:16] Vendor vs. Subrecipient: Key Differences [00:05:24 - 00:08:44] Applying the Procurement Lifecycle [00:09:34 - 00:10:54] Using Risk and Control Matrices [00:11:23 - 00:12:54] Manual vs. Technology-Driven Risk Assessment [00:11:48 - 00:12:33] Fraud Risk in Procurement [00:13:24 - 00:15:31] Equity and Supplier Diversity Programs [00:17:49 - 00:20:11] Auditing Program Effectiveness vs. Compliance [00:20:47 - 00:21:28] Final Thoughts [00:21:28 - 00:21:50] IIA RELATED CONTENT: Interested in this topic? Visit the links below for more resources: Global Practice Guide: Auditing Procurement in the Public Sector, 2nd Edition Online Exclusive: AI in Public Sector Procurement Audit Tool: Procurement Risks and Controls for the Public Sector Examples Third-Party Topical Requirement Global Internal Audit Standards Knowledge Centers: Public SectorCertifications May Sale Visit The IIA's website or YouTube channel for related topics and more. Follow All Things Internal Audit: Apple Podcasts Spotify Libsyn Deezer

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