Engagement Memo-Audit of Contracting Leading Practices
We are initiating an audit of the company’s contracting policies and practices. Our objective is to assess the extent to which the company is following private and public sector leading practices in designing and exercising contract provisions that mitigate the company’s operational, legal, and financial risks.
During the audit, we plan to interview company officials and analyze documents and data related to the development and execution of contracts. Our request for documents will be made as our work progresses. We will also work to minimize the impact of the audit by coordinating interviews and observations with staff in advance.
Our work will be performed in accordance with generally accepted government auditing standards. Our interactions with the company will be consistent with P/I2.1.3, which sets forth the relationship between our office and the company. In particular, section 7.0 of the policy discusses coordination between company officials and our office of audits.