ASPECTS OF THE INTERACTION AMONG FINANCIAL CONTROL INSTITUTIONS IN THE PUBLIC SECTOR OF THE REPUBLIC OF BULGARIA
Authors
Keywords
control institutions, interaction, coordination, public sector
Summary
There are several control institutions in Bulgaria whose common subject is public finance. These are the Bulgarian National Audit Office, the Public Financial Inspection Agency, and the Internal Audit Directorate. The fact that these bodies have a common subject of control implies uniformity of the control they exercise as well as the establishment of certain interrelations among them and the coordination of the control procedures they apply.
Surveys conducted so far indicate that despite the agreements which these control institutions have signed, there is rather weak cooperation among them in practice. In addition, the volume of information they exchange before initiating control operations is fairly small, which results in duplicating the activities performed in entities which are subject to control.
Hence, the lack of coordination and interaction leads to increased costs of financial audit in the public sector and diminish its efficiency. It is therefore necessary to reorganize the communication among bodies engaged in public finance control.
Pages: 30
Price: 3 Points
