Which of the following BEST explains the difference between a seller audit during Administer Procurements and a procurement audit during Close?

Option C is correct.  Procurement audit examines success and failures. Seller audit review product created.

The correct option is >>>>>>>>> (C)

The procurement audit during close gives an opportunity to examine success/failure and gather lessorns learned.

Seller audit during adminsiter procurements is aimed at inspecting the existence of management control framework for procurement including the organisation structure, plan of procurement, monitoring and control the procurement activities including quality assurance procedures and formats that may be applicable to ensure quality and compliance of equipments and materials during manufacturing, delivery, materials handling, storage till its final installation; monthly progress reports and materials order and delivery status, non conformance reports formats and procedures during FAT/ SAT in order to satisfy the investors that quality assurance and quality control procedures are formulated, communicated to ensure that good quality of goods and service is finally delivered

Procurement audit during close is to acertain the success and failures in implementation of management control framework, quality control procedures and to carry forward the learnings of success and avoidance of failures to the next project; it further establishes any unresolved disputes during the project closure

 

I agree with Option C. The seller audit reviews the products being created, while the procurement audit is used to examine successes and failures and gather lessons learned.

Here Option C seems fit to your question. Failures are the exact feedback for future plan

ISA 210, "Agreement on the Terms of Audit Engagements", paragraph 6 (a). 6 ISA 800, "Special Issues - Audits of Financial Statements Established in Accordance with Standards Accounting for Special Purposes ", paragraph 8. 7 ISA 210, paragraph 6 (b)

the procurement audit review the product being created while seller audit reviews how well the seller is doing the job also procurement audit review the both buyer seller and buyer how they carry the procurement process

some awesome details on blog.procurementfreelancers.com