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Financial Audit As Prediction Tool For Risk Reduction In Public Finance

Author

Listed:
  • 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)

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.

Suggested Citation

  • Nora Stangova & Agnesa Vighova, 2014. "Financial Audit As Prediction Tool For Risk Reduction In Public Finance," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
    • Handle: RePEc:bbn:journl:2014_2_6_stangova
    as

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    File URL: http://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_2_2014.pdf
    File Function: Revised version, 2014
    Download Restriction: no
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    More about this item

    Keywords

    financial audit; public finance; budget; risks;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt

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