on of unauthorized access, opening, amendment, or tampering/alteration. c. Management obtains reliable documentations to verify that potential bidders are financially stable, reliable, and technically competent, such as audited financial statements, certificates of insurance, reliable and recent references, and certificates showing quality standards are met d. The organization protects submitted tenders from
Which of the following is not a typical control for Bidding activities under the Purchase-to-Pay process?
a. Management has established minimum competition criteria for the bidding process: generally, a minimum of three bids, except in sole-provider situations. where detailed documentation is required to demonstrate there are no other eligible vendors in the marketplace.
b. Appropriate internal procedures are in place to protect the recording, handling, storage, and assessment of submitted bids, including the prevention of unauthorized access, opening, amendment, or tampering/alteration.
c. Management obtains reliable documentations to verify that potential bidders are financially stable, reliable, and technically competent, such as audited financial statements, certificates of insurance, reliable and recent references, and certificates showing quality standards are met
d. The organization protects submitted tenders from alteration, information leakage, or destruction by using an electronic bid or supplier portal, or by retaining them in a sealed condition by a partial party
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