Procurement Audit as a Tool for Performance of Supply Chain Management

Abstract

With an increasing number of organizations using suppliers based emerging economies, potential opportunities for fraud and corruption especially within the supply chain management are likely to escalate. The need for procurement audit is imminent. Procurement audit refers to an objective investigation, examination, inspection, observation, review, inquiry, perusal, search, survey, scrutiny, interrogation, studying and testing of a government procuring entity or procurement environment. Its objective and tactics are to identify problems and opportunities and facilitates the development of appropriate action plans. Although there has a lot of researches undertaken on the subject of procurement audit and supply chain in general, researches linking procurement audit and supply chain management as a tool for performance aspect are still meager. This concept paper sought to provide an elaboration of these terminologies and how they are likely to result into supply chain performance with the view of leading to an empirical study on the same subject.