Prudent Public Financial Management through Transparency and Accountability in Public Procurement
One of the most important factors that brings development especially in developing nations is prudent
management of finance which is a function of transparency and accountability in public procurement. This is because huge
amount of funds are allocated annually in a nation’s budget expenditure for procurement purpose. The purpose of this paper
is to determine the effect of transparency and accountability in nation’s development. More often, people found the
application of transparency in their mindsets as a struggle force difficult to overcome especially in the developing societies.
The earning desires or expectancy for nation’s development is largely a mechanism in their capability and self conscious to
give adequate account of their resources entrusted in their disposals of the accounting people. This paper was written with
the aim of delivery into the process of encouraging all sectors to handle procure items i.e. goods, works, services and
consultancy in their possession in such a manner that accountability will be achieved. It was also anticipated that it will assist
the general public to contribute and monitor strategically the syndrome of high level corruption in the developing countries.
The paper offer recommendations to solicit all that matters in acquiring resources for the development of nations.
Keywords - Transparency Accountability Public procurement Corruption National development