A Procurement Audit Program is a structured, systematic process for assessing the effectiveness and efficiency of an organization’s procurement processes. This program enables organizations to identify opportunities for improvement, increase savings, and reduce risks associated with acquiring goods and services. It can be used to evaluate whether an organization is obtaining the best value for its purchases, properly managing contracts, and achieving desired outcomes from its supplier relationships. It also ensures that procurement operations comply with all applicable regulations and company policies. With a well-executed Procurement Audit Program in place, organizations can make data-driven decisions to improve their bottom line while strengthening their relationships with suppliers.