Corporate Governance and Procurement Policies

The rules, policies, processes, and organizational structures that guide how an organization operates, is controlled, and is regulated to ensure ethical practices, good business conduct, and adherence to laws.

The obligation of procurement professionals to act ethically and responsibly, especially concerning financial resources and sensitive information, to avoid jeopardizing the company's interests.

A strong system of guidelines, controls, and monitoring to protect organizational resources, ensure compliance, and mitigate risks associated with unethical conduct.

Well-defined steps and procedures to improve efficiency, consistency, quality, and risk management in procurement and supply chain operations.

Optimizing workflows through structured processes to reduce redundancy, speed up task completion, and boost productivity.

Standardizing procedures to ensure uniform performance, reduce errors, and improve reliability across different teams and departments in procurement.

Implementing measures and checkpoints within structured processes to ensure that products or services meet established standards and enhance customer satisfaction.

Identifying and mitigating potential risks, such as bribery, conflicts of interest, and regulatory non-compliance, through structured processes and controls.

Effective allocation of resources by understanding their needs throughout different stages of a procurement process, enabling efficient use of budget and assets.

Rules, procedures, and structures that define roles and responsibilities within an organization, ensuring compliance with laws and reducing conflicts of interest.

A situation where an individual's personal interests could potentially influence their professional judgment or decisions.

A model (Disclosing, Distance, Delegate, Disassociate) to manage conflicts of interest related to procurement decisions.

The first step for managing conflicts of interest; proactively identifying and reporting potential conflicts in procurement dealings.

Removing yourself from situations where conflicts of interest may arise by refraining from direct input, if possible.

When you cannot distance yourself, delegate the decision to someone else without the conflict of interest.

Completely remove yourself from a contract or deal if it presents too much conflict of interest.

High-level statements that outline an organization's position on procurement issues.

Step-by-step instructions for handling tasks or situations in procurement.

International Labour Organization conventions that govern labour practices and standards including issues like employment rights, minimum wages, child labor.

Ensuring best practices, ethical behavior, compliance, and risk mitigation in procurement processes.

A framework used in public sector procurement to evaluate accountability and achieve value for money. It focuses on four key elements.

Treating everyone fairly and without prejudice, providing equal opportunities and access to public services and benefits.

Goods freely moving across borders without barriers, facilitating trade and economic activities. Public authorities must comply with trade rules.

Public authorities treating individuals impartially and avoiding discriminatory practices in areas such as law, taxes and services.

Openness and accessibility of information. Public institutions should provide clear information about decisions and policies.

Procurement functions in the third sector (e.g., charities) are more regulated than in the private sector because funding often comes from donations or grants, requiring accountability.

Third sector organizations must ensure procurement follows charity rules, legal requirements, Charities' Commission regulations and operate for public benefit, not private gain.

A strong emphasis on accountability in the third sector's procurement—responsible use and management of donations and grants.

Regulators verify third sector organizations operate for public benefit, not private gain, ensuring public information access and activity audits that may also involve investigating complaints about mismanagement or abuse.