The Role of Monitoring and Audit in Combating Coruption

The Role of Monitoring and Audit in Combating putrescence By Remi Medupin, PhD 1. Introduction A major(ip) part of the worlds exports of product and commercial go are linked to man procurement. In to the highest degree countries, normal procurement accounts for 15-20% of GDP (OECD 2007). As viridity procurement accounts for such(prenominal) a large slice of economic activity, the say-so of graft to damage a nations sparing is considerable. season earth procurement can mean semiprecious backing opportunities, it is also exposed to bribery. Such putridness undermines markets and welfare, and exerts a destructive effect on society by corrosion charge in leaders, institutions and business itself. Left unchecked, a culture of corruption can easily take root and is potent to remove. cosmos works contracts are big business. From major foot projects such as power stations and roads to build public universities and equipping them with telecommunications, gover nment purchasing for goods and services carries big 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 diverting resources absent from development programmes; its effects are particularly noisome to developing countries and achieving good governance and fighting corruption is amongst the most important ch in allenges facing developing economies such as Nigeria. Corruption in public procurement, which affects countries across the globe, has enormous n egative consequences. It diverts public gol! d into unnecessary, unsuitable, uneconomic or even dangerous projects. The uptake conglomerate in public procurement, the high degree of treat afforded to public officials in executing such programmes, and the involvement of many a(prenominal) common soldier sector entities in the process all contribute to its might to corruption. Anti-corruption war in Nigeria is a cyclical...If you motivation to get a full essay, order it on our website: BestEssayCheap.com

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