1 minute read
REPORTING CRITERION 3
Supply Chain Risks
CES Ltd finance systems are currently decentralised, with 3 finance accounting systems (ICON, SAAS and Synergetic) being used across the organisation and being utilised as a finance function, as opposed to a complete Supply Chain Purchase to Pay (P2P) management system. The decentralisation of data and inconsistent data entry across these platforms requires future resource investment to manage supply chain risk and improve analysis and reporting in the future.
Advertisement
As such the volume of goods and service providers, and the risk analysis is a high-level view based on data obtained from ICON as a single source. It should be noted that current accounting systems utilised across CES Ltd do not capture information regarding Provider Categories, Contractor or visualise Staff reimbursements without a full financial audit conducted onsite to review hard copies of invoices.
Using the data available from ICON capturing invoice history from 42 schools valuing $55m AUD to capture the top 50 suppliers of this data pool by spend as well as suppliers of key high-risk goods and services.
The highest risks areas identified for Educational institutions are:
