Five steps to auditing contractors

Len Simmons, Chief Operating Officer for compliance specialist AltiusVA, outlines five steps to improving your contractor auditing practices.

  1. Build your team and sharpen your tools

Before contemplating going out to audit, you should build a capable team, whether internal or external, that you can trust to audit, input data and analyse as effectively as possible.

Having the right tools available to your new team is critical to begin the auditing process. This doesn’t just include your internal supply chain software, but also the templates/questionnaires/audit forms that your team will have to complete for each contractor.

  1. Schedule regular audits

How often you should hold audits depends entirely on the size of your supply chain. 12 months is seen as the most popular timeframe, but sticking to your schedule and taking the time out every year to dedicate yourself to the process is hard to do.

  1. Standardise your audits

To maximise the benefits of your audit and the standards of your organisation, it is essential to audit your suppliers based on the same factors.

  1. Analyse and share the results

Once the auditing process has been completed, now is the time to bring that data together to ensure that consistent results are achieved and reports can be made to share results with the relevant people in your organisation.

  1. Measure audit success and report

You should measure and report the success of the latest audit you’ve completed. This allows for you and your team to implement improvements and fine tune your auditing process. Questions to ask yourself at this stage include:

  • How many audits were completed on time?
  • How long did the average audit report take to turn around?
  • How long did it take for corrective action closure?
  • How many overdue corrective actions on average did you have?

These measures can greatly enhance your resource planning and management in the future.

Download the AltiusVA Best Practice Guide to Social Housing Contractor Compliance