Day: March 17, 2022

Risk is a measure of a likelihood and consequence of an occurrence. Risk can also be identified as anything that makes attainment of objectives difficult. It can also be defined as the probability of an unwanted outcome happening. Procurement risk Read More …

This describes the combination of economy, efficiency and effectiveness within an organization or its processes. The 3 concepts define the relationship between plans, objectives, inputs and outputs. Economy – Minimizing costs of resources used for an activity having regard to Read More …

This involves a systematic review of the public entities procurement activities for the purpose of assessing the efficiency, economy and effectiveness of procurement practices and controls associated with procurement activities to determine the degree of adherence to procurement laws, regulations Read More …

1. Regulatory Authorities – PPRA and PPARB are interested in assessing if the public entities are compliant with the procurement laws and regulations and that value for money is manifested in the entities procurement operations. 2. Management of public entities Read More …

1. Checking procurement and accounting records. These are records examined to ascertain how true and fair the financial statement is and the extent to which government approved accounts and procurement practices have been compiled with. The accounts should be verified Read More …

1. To determine compliance with relevant law and regulations by public entities. 2. Promotes accountability with procurement processes. 3. Helps detect and prevent fraud in procurement process of public entities and other important practices and irregularities. 4. Ensures fairness and Read More …