An internal auditor reviewed the tender documents for the procurement of manufacturing equipment and observed the following:

Tender technical specifications were compliant with internal policies.

The sole assessment criterion of the tender was economic feasibility.

All bids were submitted to a designated software and could not be opened before the submission deadline.

The winner was approved by senior management.

The winner was selected based on which bidder offered the newest technology.

Which of the following is the most appropriate conclusion?