Online Class Notes (Jesse) [30] [5]

The purpose of having the GR committee is to ensure BU and vendors are doing the right thing in the right process, the audit is a guidance and also as a deterrent to them.

During the process of checking, we identify the risk and fraudulence, also to make sure we are not paying what we shouldn’t pay

In the last year, we deducted 2 million for the cost claim by vendor but we shouldn’t pay.

The purpose of having the GR committee is to ensure BU and vendors are doing the right thing according to the right process, with the audit being a guidance and also a deterrent for them (against further breaches of contract).

As part of the checking process, we identify any existing and potential fraudulence, whilst making sure we are not being charged for anything that is in excess of our obligations. 

Throughout 2022 / In the last calendar year, we removed 2 million RMB in invalid (both fraudulent and lacking documention) cost claims by vendors.

Grammar

fines are a deterrent against drunk driving / drink driving

Pronunciation

funding
finding – fareeee

specific – speh sif fick