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An Overview on the Development of Internal Control in Public Sector Entities: Evidence from Kosovo

Sead Ujkani and Nexhmie Berisha Vokshi

International Journal of Economics & Business Administration (IJEBA), 2019, vol. VII, issue 4, 320-335

Abstract: Purpose: The development and implementation of Public Internal Financial Control (PIFC) in the management processes plays an important role in providing sound financial management, transparency, efficiency and effectiveness in the public sector entities. Design/Methodology/Approach: In this paper we have analysed the annual reports on the functioning of the PIFC system in the public sector of Kosovo for the 2014 – 2017 period. The analysis has been completed even more, based on the annual reports of National Audit Office, progress reports published by the European Commission, showing the progress achieved under the EU directives as well as the data from the monitoring reports of SIGMA (Support for Improvement in Governance and Management). Findings: The findings show that the implementation of rules and procedures for internal control in budget organizations lags behind the development of the overall framework. Practical Implications: Continuous improvements in the field of Public Internal Financial Control are important steps in the process of European integration, while Kosovo has made considerable efforts to develop the control environment and implement the PIFC principles, particularly by establishing the appropriate legal, and institutional framework to support the PIFC system. Originality/Value: PIFC development is a continuous process and is part of the public administration reform, hence this paper contributes in identifying possible gaps and weaknesses in the system of internal control in Kosovo and provides recommendations for their improvement.

Keywords: Internal control; public sector; public sector entity; control environment; risk assessment; control activities; information and communication; monitoring. (search for similar items in EconPapers)
JEL-codes: M42 M48 H83 P35 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:4:p:320-335