Procurement Audits are a comprehensive review of the purchasing and procurement procedures used in generating goods or services for an organization. It is a systematic process of examining all areas involved with the acquisition of materials, including contracts and suppliers, to ensure that company policies and compliance regulations have been followed. By conducting regular procurement audits, organizations can gain insight into their purchasing practices, identify potential risks and inefficiencies, determine whether processes are being effectively carried out, and improve internal control mechanisms. The aim of a procurement audit is to ensure best practices, reduce wasteful spending, and maximize value across the entire supply chain.