Designing a Procurement Function

“Designing a Procurement Function” by Mike Stein for TXCPA’s Today’s CPA (March – April 2015)*

Procurement may be viewed as an ancillary back-office function that increases general and administrative expenses. A formal procurement function, though, actually mitigates the operational, fraud and financial reporting risks that could negatively affect a company’s bottom line and its reputation.

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_{*Reprint with the permission of Today’s CPA, a publication of the Texas Society of Certified Public Accountants. This article represents the opinions of the author(s) and are not necessarily those of the Texas Society of Certified Public Accountants.}