Month: March 2022

1. Deviation from correct procedure. 2. Overcharging suppliers. 3. Poor record keeping. 4. Missing files. 5. Poor/ No segregation of duties 6. Unnecessary meetings with suppliers. 7. Resistance to procurement audit.

1. Strategic risks These are risks associated with external factors. They may lead to delay in supply of goods and services, and occur in the following stages: Planning for procurement: Failure to secure on-going supply which is critical on the Read More …

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1. Rejection of the lowest bidder on unjustified grounds. May indicate bid rigging for hidden interest in contract. 2. Single sourcing and awards to same bidder over and over again. 3. When requests are made for reasons of urgency. 4. Read More …

Any assessment of the soundness of the procurement system will have to study the policies and processes of risk management adopted by the public entity. This is the first step in risk assessment. 1. Procurement function An analysis is done Read More …

This is the process within risk management that seeks to identify potentials problems or areas of uncertainty. It is the process of identifying all the potential things that might go wrong with an activity or sources and estimating the probability Read More …

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 …