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The role of Supreme Audit Institutions in fight against the consequences of financial and economic crisis: A theoretical approach

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  • Nagy, Sándor

Abstract

There is a significant pressure on Supreme Audit Institutions in Europe: shrinking available resources and growing expectations from its stakeholders (citizens, civil organizations, investors, governments etc.). In consequence of the financial and economic crisis and the unpredictable shocks, imbalances there is a relevant need for good governance and effective spending of public money. The Supreme Audit Institution (SAI) – as independent external auditor of the budget – is intended to reach appropriate level of audit impact by using its inputs. This impact may result lower governmental expenditures, effectiver public finance management, increasing trust, transparency and accountability. Responding to the constantly changing circumstances the SAI should use and activate non-conventional resources such as knowledge and social capital to be more adaptive, effective and to achieve its strategic goals.

Suggested Citation

  • Nagy, Sándor, 2012. "The role of Supreme Audit Institutions in fight against the consequences of financial and economic crisis: A theoretical approach," MPRA Paper 40356, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:40356
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    References listed on IDEAS

    as
    1. Blume, Lorenz & Voigt, Stefan, 2011. "Does organizational design of supreme audit institutions matter? A cross-country assessment," European Journal of Political Economy, Elsevier, vol. 27(2), pages 215-229, June.
    2. Dijkman, Miquel, 2010. "A framework for assessing systemic risk," Policy Research Working Paper Series 5282, The World Bank.
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    Cited by:

    1. Lenka Hudáková Stašová, 2019. "The Scope of Control of the Supreme Audit Office in the Slovak Republic and in the other Visegrad Four Countries," Society and Economy, Akadémiai Kiadó, Hungary, vol. 41(2), pages 245-262, June.
    2. Ionel Bostan & Mihaela Brindusa Tudose & Raluca Irina Clipa & Ionela Corina Chersan & Flavian Clipa, 2021. "Supreme Audit Institutions and Sustainability of Public Finance. Links and Evidence along the Economic Cycles," Sustainability, MDPI, vol. 13(17), pages 1-24, August.

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    More about this item

    Keywords

    financial and economic crisis; cooperation; Supreme Audit Institutions; ECA; INTOSAI;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation

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