Most of the time, inappropriate appointments and selections take place based on relationships rather than regulation; its undesirable results are clear and obvious to all. As experiences shows that hiring inexperience staff can create the opportunity for corruption and fraud which can result the misuse of entrusted power for private gain and it hurts everyone involved in the project.
MUMTAZ RANA will consider following measurements in order to make sure the transparency of the project and avoid any possible risk of fraud and corruption.
Regular and timely monitoring of project will help MUMTAZ RANA to understand how well controlled its compliance risks are and to make informed judgments about where it should spend its resources. It is important to an effective project management to prevent wrongdoing.
This should include internal controls such as:
- Clear written designation of authority and accountability for various issues;
- Clear lines of reporting; and Effective accounting and financial reporting procedures which accurately reflect the project’s transactions, dealings, and asset disposition.
- It is extremely important to have written documentation of the project’s controls, procedures and reporting responsibilities, as well as documentation of how these responsibilities have been evaluated for efficacy.
An investigation or disciplinary action should be conducted in compliance with relevant laws and regulations. Failure in doing so can make the compliance risk worse, or raise entirely new problems. Therefore, MUMTAZ RANA will use experienced outside legal firms, who can help navigate the often complex legal landscape.
Consideration of local labor (daily wagers), privacy, data protection, and other applicable law is very important in the investigation and disciplinary action process. It is thus wise for MUMTAZ RANA to take extra measurements in securing the data privacy, confidentiality of project information and work with law firms that can provide advice on these and other areas of law.
Mumtaz Rana 