The Role of Monitoring and Audit in Combating Coruption

The Role of Monitoring and Audit in Combating decomposition By Remi Medupin, PhD 1. Introduction A major(ip) part of the worlds exports of sell and commercial go are linked to man procurement. In nigh countries, normal procurement accounts for 15-20% of GDP (OECD 2007). As super C procurement accounts for such(prenominal) a large slice of economic activity, the potential drop of graft to damage a nations rescue is considerable. season open procurement can mean worthful backing opportunities, it is also exposed to bribery. Such putridness undermines markets and welfare, and exerts a destructive effect on society by crumble charge in leaders, institutions and business itself. Left unchecked, a finale of corruption can easily take root and is severe to remove. cosmos works contracts are big business. From major radical projects such as power stations and roads to structure public universities and equipping them with telecommunications, government purchasi ng for goods and services carries considerable 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 deviate resources absent from development programmes; its effects are particularly defamatory to developing countries and achieving good governance and fighting corruption is amongst the most important ch on the wholeenges facing developing economies such as Nigeria. Corruption in public procurement, which affects countries across the globe, has enormous negative consequences. It diverts public gold into ! unnecessary, unsuitable, uneconomic or even dangerous projects. The disbursement conglomerate in public procurement, the high degree of understanding 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 command to get a full essay, order it on our website: OrderCustomPaper.com

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