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Ensuring The Legality And Performance In Using Public Funds

Author

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  • Florina-Maria Bobeş

    (Faculty of Economic Sciences, “Lucian Blaga”University of Sibiu)

Abstract

At this stage, when the public entities are promoting the efficiency criterion, any public entity leader is interested to operatively know how the available public funds are being managed so as to achieve maximum results with lowest costs. This knowledge can not be achieved without the contribution of the internal audit, an activity that provides important information regarding the financial management and the heritage state, thereby contributing to achieving the objectives of the institution. The external public audit work done by the Court of Accounts, as the supreme audit institution in our country, is essential for ensuring accountability on the management of public funds. The responsibility for using the public money under legal and performance conditions is, of course, entitled to the officers of public budgets, but the public audit is the one that assesses the financial management of the entities and that issues recommendations that stay behind taking managerial decisions aimed at a better use of the funds.

Suggested Citation

  • Florina-Maria Bobeş, 2012. "Ensuring The Legality And Performance In Using Public Funds," Romanian Economic Business Review, Romanian-American University, vol. 7(1), pages 40-49, March.
    • Handle: RePEc:rau:journl:v:7:y:2012:i:1:p:40-49
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    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/SP12/REBE-SP12-A5.pdf
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    Cited by:

    1. Florina-Maria BOBEª (TÃVALÃ), 2016. "The Performance Audit – A Basic Attribute of the Romanian Court of Accounts and a Consolidation Solution for Sustainability in the Current Macroeconomic Environment," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 17(1), pages 70-75, March.

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