A ________ audit should be performed to document an honest appraisal of the contract from both sides-the buyer's side and the seller's side.
A) procurement
B) financial
C) vendor
D) seller

Question

Quizplus · Accepted Answer

A procurement audit is specifically designed to evaluate the performance of the contract from both the buyer's and seller's side. It evaluates the contract management, procurement process, and procurement activities to ensure the contract is being executed without any discrepancies or issues. On the other hand, financial audits focus on financial statements, while vendor/seller audits evaluate the performance of a vendor or seller, but not the contract itself.

A ________ Audit Should Be Performed to Document an Honest