Course Information
Effective 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 most large organizations. Organizations are relying on outside contractors more than ever in areas such as construction, joint ventures, consulting, technology, real estate, maintenance, benefits administration and advertising. Many organizations have found their controls over contracting activity and contractor payments have not been sufficient to protect them from erroneous billing and performance problems. This one-day course explores how auditors can identify contract-related problems and help management address the challenges of contracting in today's world.
Course Objectives
Upon completion of this course, participants will be able to:
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Identify common problems encountered in contract auditing.
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Relate exposures to contracting performance and administration.
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Apply a model audit approach to virtually any type of contract.
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Use suggested contract language for better contract administration and auditing.
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Develop contract audit objectives for their organization.
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Identify some cost overcharges and performance issues related to contracts.
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Mobilize management to improve the management of contracting activity.
Topics to be covered:
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Risks associated with contracting and contractors.
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Why controls over contracts break down.
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Exposures in different types of contracts.
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Fraud exposures in contracts.
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Assessing contract auditing practices.
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Common problems in contracting and barriers to auditing contracts.
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Determining contract audit objectives and strategy.
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Approaches to auditing contracts for cost recovery.
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Auditing technology, revenue and sales contracts.
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Maximizing the return on the contract audit resource.
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Common cost exceptions and how to find them.
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Items to include in contracts.
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Using technology in contract auditing.
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Contract audit findings.
Course materials include:
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Contracting Exposures by Phase
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A Model for Controlling Contracts
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Preliminary Survey and Audit Plan
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A Template for Auditing a Cost Contract
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Checklist for Development of a Contract Audit Program
Instructors
Courtenay Thompson is a recognized authority on training managers, auditors and investigators in fraud-related matters. He has designed and presented courses on fraud prevention, detection and investigation for business and government organizations worldwide. His courses are known for providing practical, proven approaches to real problems. These practical approaches have yielded dramatic results for class attendees.
In addition to fraud-related programs, Mr. Thompson provides training on audit interviewing, improving personal and professional effectiveness, behavior and communication skills, leadership and auditing contracts. For 13 years, Mr. Thompson was editor of "Fraud Findings" in The Internal Auditor magazine.
Prior to entering the consulting field, Mr. Thompson's experience in public accounting and internal auditing provided exposure to a number of types of impropriety including embezzlement, insurance fraud, loan fraud, stock fraud, kickbacks and bribery, misappropriation of funds and mail fraud. In additional to personally detecting and investigating suspected fraud cases, he established corporate policies for fraud and trained other auditors in fraud detection and investigation. Responsibilities included working with top management and reporting to the audit committee on the status of open cases. He has worked closely with legal counsel, law enforcement and prosecutors.
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.
The course coordinator will contact you with parking information. Handicapped parking is free at the meters around the downtown area.
Vending machines with Coca-Cola products and various snack items are available. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.
You might want to bring a light sweater or jacket, as room temperatures vary.
To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html.