FINANCIAL AUDIT AS PREDICTION TOOL FOR RISK REDUCTION IN PUBLIC FINANCE

Nora Stangova () and Agnesa Vighova ()
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Nora Stangova: School of Economics and Management in Public Administration in Bratislava, Slovakia
Agnesa Vighova: School of Economics and Management in Public Administration in Bratislava, Slovakia

JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, 2014

Abstract: State budget is the fundamental document of state economy. State budget balance reflects state economy. Deficit reported in a state budget in the long-term threatens long-term effective functioning of a state. This article aims at pointing out risks arising in the public finance of Slovakia and at providing framework proposals of solutions by means of financial audit. Financial audit represents a supervisory tool of a state, as municipalities and self-governing regions are obliged to have financial statements as well as their budgets audited by a financial auditor. In line with the International Standards on Auditing, auditor is an independent person who verifies financial statements and budgets of organisations.

Keywords: financial audit; public finance; budget; risks (search for similar items in EconPapers)
JEL-codes: H6 (search for similar items in EconPapers)
Date: 2014
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http://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_2_2014.pdf Revised version, 2014 (application/pdf)

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