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Risk Observation: Procurement Department

Observation 1
Procurement Risk (People Risk)
Risk Description
Lack of procurement officer leads to irresponsible practices of procurement process by
Procurement team members.

Risk Approach
Risk Officer joined the meeting of procurement team member to understand and observe the
effectiveness of the procurement team.

Potential Outcomes
The procurement team will remain disorganized and unsystematic management of procurement
which could leads to procurement frauds (which has occurred previously)

Risk Strategy and Action Plan:


By Mitigate and Control,
HR should hire a procurement officer not only to do the procurement processes more
systematically but to prevent from fraud happening by lack of responsible procurement person.

Observation 2
Procurement Risk (People Risk)
Risk Description
During the inspection of meeting minutes and vouchers of material purchased for branches and
head office, Risk Officer found out that there is no 3 quotations request for renovation works and
moreover U Soe Win is still working with Hayman for renovation. Previously, Audit found out that
there were renovation frauds such as making fake vouchers and manipulating purchasing prices
to deceive the company.

Risk Approach
Risk Officer joined the meeting of procurement team member to understand and observe the
effectiveness of the procurement team.

Potential Outcomes
The procurement team remains working with U Soe Win who we previously have fraud case
therefore fraud risks are still possible.

Risk Strategy and Action Plan:


By Mitigate and Control,
Risk Officer think that Management and Head of Admin should consider working with other
person in the future or make sure that there is no fraud or loss of company’s materials during
renovation of our new offices.
Observation 3
People Risk (Behavior and Attitude)
Risk Description
Lack of co-operation and respect, lack of clear communication and very aggressive when risk
officer asked procurement and budget related issues. (Yee Mon Oo is fear of more work load if
risk officer asked about the issue and always against any request for risk assessment.

Risk Approach
Risk Officer discussed with Procurement committee chairman during the meeting of procurement
team member.

Potential Outcomes
Because of her sensitive and aggressive behavior, it will be very difficult to communicate and work
with her. No effective work will be done and it is very frustrated to work with her.

Risk Strategy and Action Plan:


By Mitigate and Control,
CFO should coach and teach the responsible person to be more easy to work with anyone.

Observation 4
Procurement Risk (People Risk)
Risk Description
Yee Mon Oo, Procurement Chairperson do not want to share the quotations and other
data with risk officer for risk assessment activities.
Risk Approach
Risk Officer joined the meeting of procurement team member to understand and observe the
effectiveness of the procurement team.

Potential Outcomes
Risk Officer could not access the quotations and data and he could not do risk assessment
properly. RO could not assess the decisions of procurement teams effectively.

Risk Strategy and Action Plan:


By Mitigate and Control,
CFO need to instruct to share all data related with procurement decisions.

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