Factsheet - Tender Transparency

Factsheet

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Author

IIA-Australia

Date

2022

Topics Explored

Governance, Projects, Fraud and Corruption

Format

Factsheet

Extract/Description

Transparency and probity contribute to sound tender processes that give equal opportunity to all potential bidders, prevent corruption, and possess sufficient rigour and discipline to achieve value-for-money outcomes.

Key Points

1. Conflict of interest has become recognised as one of the most important components of good governance. 
2. Legislation has been passed that covers ethical behaviour, some of which cover conflict of interest. 
3. Courts have emphasised the need of interest may arise between parties.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No