Allegations of corrupt procurement, be they fact or fictional, are high risk. It’s for this reason that the Public Finance Management Act (PMFA) Act 1 of 1991 strongly recommends frequent performance audits – the most certain means of ensuring your operation’s integrity and that each and every resource purchased delivers on the three Es – economy, efficiency and effectiveness.
In objectively examining your procurement systems and resources, our performance audit team focuses on the three Es, offering you the following benefits:
- the alignment of your resources with your procurement and performance policies and existing systems
- the identification of areas and processes where waste and inefficiencies occur
- assurance of your regulatory compliance
- the provision of cost-saving controls and systems
- best-practice performance benchmarks and management processes.
In short, the certainty of knowing your resources are delivering a return-on-investment and that your procurement systems are “corruption proof.”
Our scope of services
Depending on your organisation’s needs, our services may include any or all of the following:
- structuring of a performance policy
- resource management
- monitoring and control processes
- progress reporting
- information to management.
Best-practice case studies and guidelines from professional authorities
- The Auditor General’s guideline for the planning, execution, reporting and follow-up of performance audits conducted in the public sector
- Standards and implementation guidelines for performance auditing based on the INTOSAI auditing standards
- The SAICA guide on performance audits in the public sector
- IIA standards
- Generally Accepted Government Auditing Standards (GAGAS)
- Internal control objectives as defined by the Committee of Sponsoring Organisations of the Treadway Commission (COSO) by using the COSO internal audit model
- Grant Thornton International is the COSO project lead in developing guidance on monitoring internal control systems.