10 Easily Forgotten Things in a Procurement Process – by CA. Naval K. Bajaj

While most of us will agree that sourcing is one of the key processes of an organization where substantial part of risks exist (including fraud and corruption risks) and losses could arise to our organizations if the internal controls are not strong, and that we need to bring as much transparency as possible in that process.

Some of the key controls are commonly forgotten from being specifically defined within the documented procedures.