Transcription of Procurement fraud - Deloitte
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Procurement fraud - Deloitte
Major infrastructure activity is occurring overmuch of the Middle East with significantconstruction work being undertaken on behalf of government agencies in areas such as airportterminals, hospitals, port facilities and transportnetworks. In addition, multi-billion dollarprojects are being undertaken in the oil and gasindustry. But the incentive to win major contractscan lead individuals and even c ompanies to engagein corrupt and fraudulent behavior. Staff withinthe Procurement or project management divisionsof contracting organizations may be exposed toinappropriate inducements such as bribes andcorrupt offerings. So how does Procurement fraudhappen and who should be concerned?
Procurement fraud can be separated into two distinctive sections: The period of time before any contract is awarded, and after a contract has been awarded. Pre-contract stage fraud includes fraud related to the submission process–such as the premature opening of bids, altering bids, unjustifiable extension of time limits
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