Risk management and internal control

ProcurEU definition

Public procurement takes place at an intersection of public and private interests. It is subject to several layers of internal and external oversight, even including media attention, and is widely identified as a key risk area for fraud and corruption. As such, a big part of a procurement professional’s job is managing a number of overlapping risks. This requires rigorous and thoughtful application of mitigation measures and controls, as well as a proactive approach to protecting the interests of the organisation and the public good.