This course will enhance your ability to review the solicitation, award, and administration phases of Federal contract activities with special attention to the procurement-related changes resulting from recent reinvention initiatives.

The course reviews the entire Federal contracting process involving different types of contracts used in the Federal Government and the contracting process as set forth in the Federal Acquisition Regulation. Also covered are the need for auditors to be constantly aware of fraud possibilities and to identify key areas where the opportunity for fraud is greatest.

Upon completion of this course, the participant will be able to:

• Describe the various contract types,

• Understand the various changes to the procurement process as a result of reinvention,

• Describe the role of the Contracting Officer,

• Know the contract initiation process, and

• Understand and know the key functions to contract administration and the controls involved with delivery and payment.

All auditors and evaluators of Federal programs.

Prerequisite: None

Field of Study: Accounting and Auditing

Course Level: Basic