Procurement Compliance Definition
Procurement compliance is the act of adhering to procurement regulations. These regulations govern how public funds are to be spent and ensure that taxpayer money is used appropriately. Procurement compliance helps to prevent waste, fraud, and abuse of public funds.
There are many different aspects of procurement compliance, but some of the most important include:
-Making sure that all procurement activities are conducted in a fair and transparent manner
-Ensuring that all bids are evaluated objectively
-Preventing conflicts of interest
-Making sure that only qualified vendors are selected
-Ensuring that proper documentation is maintained throughout the procurement process
