LAHORE:Performance Audit Wing (PAW) has organized three training courses with objective to familiarize the participants to the concepts and procurement contract management in performance auditing and how to prepare Preliminary Survey Report (PSR).
As many as 66 officers across the country participated in the courses titled “Procurement Management in Performance Auditing”, “Contract Management in Performance Auditing” and “how to prepare Preliminary Survey Report (PSR)”, the audit wing spokesman told media here on Tuesday.
The course instructors explained that in the procurement management, the right quality of goods and services at the right time, in right quantity, from the right source at the right price was purchased. The prime objective of procurement was to reduce costs through buying wisely, efficiently, and ethically to obtain the best value for money. It also ensured continuity of supply having good relationships with existing suppliers and contractors and exploring other sources of supply.
“Contract management enables you to streamline and automate your approach to manage existing contracts and creating new ones. It helps to control costs, oversee payments, improve productivity and to reduce financial risk,” said the course instructor. The purpose of contract review was to ensure that legal agreements and the terms contained within them were robust and that legal and financial risk were reduced as far as possible to protect the interests of the business.
The instructor also emphasized on the planning part of Performance Auditing “How to prepare PSR” as it carries huge significance in the Performance Audit Cycle. The purpose of this course was to grasp in detail the planning part and enable the participants to practically know the alternative audit concepts of performance audit.
The officers shared their feedback regarding the training sessions and gave their views that these sessions increased their knowledge and skill capacity of performance auditing. They appreciated the efforts of the audit wing and assured to implement entire knowledge in practical field work.
At the end, Muhammad Samiullah Teepu, Director General (PAW) addressed the participants and hoped that these short courses would improve practical skills in field work of the officers. He admired the resource-persons who came fully prepared in their respective training sessions. He also appreciated the officers and staff of Performance Audit Wing for their support to make these courses successful. He awarded certificates to the participants.