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Importance of Keeping Procurement and Contract Records

Jorge Lynch Leave a Comment

Procurement and contract records are important because they serve as an audit trail of how the process was carried out.

Procurement and contract records are the evidence of all actions taken to award contracts, and of the results of the monitoring and oversight of contract implementation sverige-ed.com.

Procurement and contract records are the basis for internal and external audits, and are needed to determine compliance with the procurement legal and institutional framework.

Maintaining procurement and contract records should be mandated by law given the use of public funds and the need for transparency and accountability.

For what other reasons are procurement and contract records important?

Leave a comment.

Filed Under: Record Keeping

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