Answer: The organization has a procurement policy but lacks effective monitoring to ensure compliance.
Trend: For the year ending April 30, 2025, there were significant lapses in following procurement policies.
List: Implement stronger monitoring procedures to uphold procurement policies and prevent management overrides.
Finding Text
The organization has a written policy that governs the process for the procurement of materials and services but did not have proper monitoring procedures to prevent those policies from being overridden by management. For the year ended April 30, 2025, Miami-Cass REMC and Subsidiary has failed to properly adhere to the policy regarding procurement of materials and services consistent with control objectives.
Corrective Action Plan
Management of Miami-Cass REMC and Subsidiary will properly adhere to its written policy that governs the process for the procurement of materials and services in the future and add additional monitoring to prevent future error. Management agrees with the findings.