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Audit of Efficiency of Procurement Business Process

Student: Kaverko Veronika

Supervisor: Larisa E. Marshirova

Faculty: Faculty of Economics

Educational Programme: Finance (Master)

Final Grade: 7

Year of Graduation: 2016

In modern conditions of activity, with growing macroeconomic risks and increased competition, the effectiveness of business processes, in particular business process of procurement, have a great importance. According to the International consulting company KPMG, the the expenditures on procurement in various manufacturing sectors range from 26% to 65% of the revenue of companies. Assessment of effectiveness is carried out in the framework of audit of efficiency. audit of efficiency is a type of audit activity, aimed at expressing the auditor's opinion on the economy of resource use, efficiency and effectiveness of financial and economic processes, management processes. The aim of this work is to develop information and methodological support of the audit of efficiency of Procurement Business Process. The object of this study was of OJSC "GAZ". In order to achieve the goals of the study a comprehensive analysis of the state of the company, risks, opportunities, and threats for company development was made. Because of constitution a detailed block diagram risks for each subprocess, as well as the control procedures to prevent them were identified. Evaluation of the internal control system showed high reliability, and therefore the decision was made to implement only some of the procedures of performance audit. In the testing procedures we developed a new method of forecasting the needs in the procurement of components, taking into account such components as trend and seasonality. This model describes good the data and gives more accurate forecast values than the use of traditional forecasting methods like professional experts’ judgments. On the basis of its results was calculated the safety stock and reorder point, which characterizes the amount of reserves which must be made to ensure uninterrupted production process.

Full text (added May 25, 2016)

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