how to prevent corruption in procurement

A New Perspective in Risk Mitigation

Our track record and global procurement fraud expertise makes us leaders in procurement fraud risk mitigation. Key staff led and designed the controls framework for the British Standard BS10501: 2014 Guide to Implementing Procurement Fraud Controls.

We have successfully tested this risk mitigation framework on small and large scale international projects identifying significant risks, introducing risk mitigation frameworks and  strategy to protect revenues that would otherwise have been lost to illicit conduct.

Procurement fraud is recognised as one of the most significant financial crimes globally that impacts all sectors. From false claims through to bid rigging and counterfeit products, the scale and breadth of procurement fraud and the insider threat of corruption can have a significant financial and reputation impact on an organisation.

Education and awareness and an organisations ability to test and assess its governance, risk and compliance maturity are the foundation and starting point in building a platform to protect an organisation revenues. 

Our approach to identified or suspected loss and the potential fraud networks that may be involved has been developed to ensure that risk areas and route cause analysis are quickly identified and risk mitigation introduced.

Strengthening an organisations risk mitigation framework through education and continual communication is an  essential part of an organisations ability to collect and analyse its own data and ensuring all staff, suppliers  and partners know their role in your organisations risk response.

 

risk assessment methods

RISKASSESSMENT

Recognising where your key organisation internal and external data sources are that can be used to profile and assess your level of risk including your organisations ability and opportunities to collect reports and information on illicit activity drives an organisations ability to plan and introduce effective risk mitigation.

PROJECTPLAN

An organisations risk profile is unique, understanding and introducing a risk solution that doesn't impact on day to day business operations is an essential part of the planning stage for risk mitigation.

assurance services

RISK    ASSURANCE

To make an initial assessment of the risk and maturity of the knowledge, controls and procedures that an organisation has in place and to design a risk framework and path that identifies and protects organisations and revenues from procurement fraud and corruption risk

fraud risk assessment

© 2019 Global Risk Alliance Ltd

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