The high occurrence of procurement fraud requires the management of an enterprise,
the risk manager of the enterprise and the internal auditor to address procurement
fraud risks effectively within the enterprise risk management concept. The purpose of
the article is to explain a procurement fraud risk management process which will
serve as a comprehensive framework for enterprise risk managers and for internal
auditors to limit the enterprise’s exposure to procurement fraud as far as possible. The
study by Venter (2005) on which the article is based proposes a procurement fraud
risk matrix which can be used to manage fraud risks within the procurement function
efficiently. This matrix is based on the Committee of Supporting Organizations of the
Treadway Commission’s (COSO’s) Enterprise Risk Management – Integrated
Framework which is specifically applied to address the procurement fraud risk
Breytenbach, Carika Magdel(University of Pretoria, 2004-08-27)
The business environment is currently typified by rapid and ongoing change, which causes the future to be increasingly unpredictable and unsettled. Companies are struggling to maintain their competitive edge and to survive. ...
Shotter, Magdalena(Southern African Institute of Government Auditors, 2000)
An analysis of the major sources of influence on management accounting education in South Africa reveals that management accounting education in South Africa is largely based on neo-classical economic theory. Regarding the ...
improvement as methodology
can assist managers
in fulfilling its ultimate
the firm’s performance.
to the total performance