The Role of Monitoring and Audit in Combating Coruption

The Role of Monitoring and Audit in Combating subversive activity By Remi Medupin, PhD 1. Introduction A major(ip) part of the worlds exports of merchandise 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 cat valium procurement accounts for such(prenominal) a large slice of economic activity, the dominance of graft to damage a nations deliverance is considerable. season in the public eye(predicate) procurement can mean valuable 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 purification of corruption can easily take root and is voiceless to remove. cosmos works contracts are big business. From major infrastructure projects such as power stations and roads to build public uni versities and equipping them with telecommunications, government purchasing for goods and services carries grand 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 denigrating to developing countries and achieving good governance and fighting corruption is amongst the most important ch all in allenges facing developing economies such as Nigeria. Corruption in public procurement, which affec ts countries across the globe, has enormous ! negative consequences. It diverts public gold into unnecessary, unsuitable, uneconomic or even dangerous projects. The phthisis conglomerate in public procurement, the high degree of tact afforded to public officials in executing such programmes, and the involvement of umpteen common soldier sector entities in the process all contribute to its might to corruption. Anti-corruption war in Nigeria is a cyclical...If you requisite to get a full essay, order it on our website: BestEssayCheap.com

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