What is the importance of ethics in procurement and supply audit?

In procurement you purchase good and services for company you work for, therefore it is very important that you purchase in the best interest of company, quality and price wise.

There is a common practice that sometimes people with lower ethical values do purchase goods and services which are not in the best interest of the company and in turn do take bribes and undercover money from suppliers.

Therefore it is very important that the purchasing people have high ethical values. They should not compromise on quantity and quality for their personal interest.