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Vulnerabilities and Risks in Romanian Public Financial Accounting

Author

Listed:
  • Terinte Paula-Andreea

    („Alexandru Ioan Cuza" University of Iași)

  • CărăuÈ™u Dumitru-NicuÈ™or

    („Alexandru Ioan Cuza" University of Iași)

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.

Suggested Citation

  • Terinte Paula-Andreea & CărăuÈ™u Dumitru-NicuÈ™or, 2017. "Vulnerabilities and Risks in Romanian Public Financial Accounting," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 662-666, December.
    • Handle: RePEc:ovi:oviste:v:xvii:y:2017:i:2:p:662-666
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    More about this item

    Keywords

    audit; public sector; financial audit; court of accounts;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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