The Role of Monitoring and Audit in Combating Coruption

The Role of Monitoring and Audit in Combating putridness By Remi Medupin, PhD 1. Introduction A major(ip) part of the worlds exports of mathematical product and commercial go are linked to man procurement. In well-nigh countries, normal procurement accounts for 15-20% of GDP (OECD 2007). As crude procurement accounts for such(prenominal) a large slice of economic activity, the capability of graft to damage a nations prudence is considerable. season universal procurement can mean blue-chip backing opportunities, it is also exposed to bribery. Such putridness undermines markets and welfare, and exerts a destructive effect on society by gnaw charge in leaders, institutions and business itself. Left unchecked, a acculturation of corruption can easily take root and is tight to remove. cosmos works contracts are big business. From major stem projects such as power stations and roads to building public universities and equipping them with telecommunications , government purchasing for goods and services carries abundant pecuniary power. Not surprisingly, competition for government contracts can be fierce, whether at local, national or international level.

Corruption is a everyday problem that undermines growth and development by amusive resources absent from development programmes; its effects are particularly wounding to developing countries and achieving good governance and fighting corruption is amongst the most important ch tout ensembleenges facing developing economies such as Nigeria. Corruption in public procurement, which affects countries across the glo be, has enormous negative consequences. It d! iverts public gold into unnecessary, unsuitable, uneconomic or even dangerous projects. The expenditure conglomerate in public procurement, the high degree of taste afforded to public officials in executing such programmes, and the involvement of more common soldier sector entities in the process all contribute to its might to corruption. Anti-corruption war in Nigeria is a cyclical...If you demand to get a full essay, order it on our website: BestEssayCheap.com

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