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Sector Risk Profile: The Importance of a Robust Procurement Policy

Procurement policy and strategy documents are key business documents which can often be overlooked in an organisation. As with other policy documentation such as health and safety policies, financial regulations and data protection policies, procurement policy documents can be valuable tools to guide employees and support your organisationís long term aims and objectives.

A robust suite of procurement documents will not only address regulatory and internal requirements, but also help to ensure your organisation is achieving Value for Money.

The most recent Sector Risk Profile published by the Regulator of Social Housing suggests that weak procurement policies can be detrimental to an organisationís reputation, stating:

ďWhile it is essential that boards manage and control risks such as health and safety and fraud, it is also important that they understand the reputational damage that other actions could have. For example, weak procurement policies or poor probity arrangements can have a significant impact on an organisationís reputation. This can result in excessive pay and payoffs, excessive gifts and hospitality arrangements or abuse of company credit cards, all of which damage the valuable reputation that an organisation has built up over many years.Ē

The full report can be viewed here.

The Cirrus team are experts in the development of effective strategy and policy documentation for public sector clients that underpins the organisationís procurement direction. Cirrus can work with you to either align your existing procurement documentation with current regulatory requirements and best practice, or develop completely new documents that meet each organisationís specific corporate and VFM objectives.

For more information on our services and how Cirrus can help your organisation, please contact a member of the Cirrus consultancy team.

(This news article contains public sector information licensed under the Open Government Licence v3.0. The quote included in this article from the Sector Risk Profile is subject to the terms of this license).

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