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State audit for strengthening the accountability in public funds management: Case of Republic of Macedonia

Author

Listed:
  • Jadranka MRSIK

    (University American College Skopje, Republic of Macedonia)

  • Tome NENOVSKI

    (University American College Skopje, Republic of Macedonia)

  • Sanja RADENKOVIC

    (Stopanska banka Ad Skopje, Skopje, Republic of Macedonia)

Abstract

The aim of this paper is to analyze the role of the state audit in strengthening the accountability in managing the public funds. Appropriate and effective use of public funds ensures a healthy economic and financial management, as well as transparency, which leads towards a positive development of the society as a whole. We evaluated the operation of the state audit in Macedonia by analyzing the regularity audit performed on five state institutions from 2010 to 2014 and we compared the results with the state audits in two neighboring countries. Our findings suggest weaknesses in the use of public money by the institutions covered by this analysis and in the operation of the State Audit Office. The research will help in increasing the public awareness about the necessity of responsible management in the public sector.

Suggested Citation

  • Jadranka MRSIK & Tome NENOVSKI & Sanja RADENKOVIC, 2016. "State audit for strengthening the accountability in public funds management: Case of Republic of Macedonia," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 9(2), pages 81-94, December.
    • Handle: RePEc:wun:timjeb:tjeb:v09:y2016:i02:a01
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