Vulnerabilities and Risks in Romanian Public Financial Accounting

Terinte Paula-Andreea and Cărăușu Dumitru-Nicușor ()
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Terinte Paula-Andreea: „Alexandru Ioan Cuza" University of Iași
Cărăușu Dumitru-Nicușor: „Alexandru Ioan Cuza" University of Iași

Ovidius University Annals, Economic Sciences Series, 2017, vol. XVII, issue 2, 662-666

Abstract: Internal audit plays an important contributive role in the economic credibility of an economy. By improving, the quality of internal audit and control in public institutions we can increase the efficiency of public spending and the whole economy in general. The aim of our paper is to identify the main vulnerabilities and risks in Romanian public sector after based upon the analysis performed by the Romanian Court of Accounts. Based upon the annual reports of the Romanian Court of Accounts from 2009 to 2016, we identify several issues and risks in the Romanian public sector, and especially in the local government financial accounting. In order to prevent more deviations and errors and to improve the quality of internal auditing and internal control systems, in the Romanian public sector, this paper proposes a series of measures in this matter.

Keywords: audit; public sector; financial audit; court of accounts (search for similar items in EconPapers)
JEL-codes: H83 M42 M48 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xvii:y:2017:i:2:p:662-666

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