Romania : Country Financial Accountability Assessment

As of 2002 , with the adoption of the law on public finance (LPF), the Romanian Government appears to have established a comprehensive legal base for appropriate institutions of public financial accountability. The Country Financial Accountability...

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Main Author:	World Bank
Format:	Country Financial Accountability Assessment
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCRUALS ADJUSTMENT LENDING AMBITION ANTI-CORRUPTION APPROPRIATIONS ATTESTATION AUDITING AUDITING STANDARDS AUDITS AUTHORITY BOOKKEEPING BUDGET DEFICIT BUDGET EXECUTION BUDGETING CASH MANAGEMENT COMMERCIAL BANKS DEBT DEBT MANAGEMENT DECENTRALIZATION EBF EXECUTION EXPENDITURE FINANCIAL ACCOUNTABILITY FINANCIAL ACCOUNTING FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL FISCAL TRANSPARENCY FISCAL YEAR GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT INSTITUTION BUILDING INTERNAL AUDIT INTERNAL AUDITING INTERNAL AUDITORS INVENTORY LEGALITY LEGISLATION LOCAL AUTHORITIES MANAGEMENT INFORMATION SYSTEMS NATIONAL ACCOUNTS PAYMENTS ARREARS PRIVATE SECTOR PRIVATIZATION PROGRAM BUDGETING PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC OFFICIALS PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR WAGES REGULATORY FRAMEWORK REPORTING SYSTEMS STATE AGENCIES STATE-OWNED ENTERPRISES SUBNATIONAL GOVERNMENTS TECHNICAL ASSISTANCE TRANSPORT TREASURY WAGES POLITICAL ACCOUNTABILITY EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS PROCUREMENT ALLOCATION OF RESOURCES BUDGET MONITORING BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY CORRUPT PRACTICES CUSTOMS ADMINISTRATION OFF-BUDGET SUBSIDIES INSTITUTIONAL FRAMEWORK
Online Access:	http://documents.worldbank.org/curated/en/2003/12/3029845/romania-country-financial-accountability-assessment http://hdl.handle.net/10986/14600

id	okr-10986-14600
recordtype	oai_dc
spelling	okr-10986-146002021-04-23T14:03:17Z Romania : Country Financial Accountability Assessment World Bank ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCRUALS ADJUSTMENT LENDING AMBITION ANTI-CORRUPTION APPROPRIATIONS ATTESTATION AUDITING AUDITING STANDARDS AUDITS AUTHORITY BOOKKEEPING BUDGET DEFICIT BUDGET EXECUTION BUDGETING CASH MANAGEMENT COMMERCIAL BANKS DEBT DEBT MANAGEMENT DECENTRALIZATION EBF EXECUTION EXPENDITURE FINANCIAL ACCOUNTABILITY FINANCIAL ACCOUNTING FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL FISCAL TRANSPARENCY FISCAL YEAR GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT INSTITUTION BUILDING INTERNAL AUDIT INTERNAL AUDITING INTERNAL AUDITORS INVENTORY LEGALITY LEGISLATION LOCAL AUTHORITIES MANAGEMENT INFORMATION SYSTEMS NATIONAL ACCOUNTS PAYMENTS ARREARS PRIVATE SECTOR PRIVATIZATION PROGRAM BUDGETING PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC OFFICIALS PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR WAGES REGULATORY FRAMEWORK REPORTING SYSTEMS STATE AGENCIES STATE-OWNED ENTERPRISES SUBNATIONAL GOVERNMENTS TECHNICAL ASSISTANCE TRANSPORT TREASURY WAGES POLITICAL ACCOUNTABILITY PUBLIC SECTOR MANAGEMENT BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT PROCUREMENT ALLOCATION OF RESOURCES BUDGET MONITORING BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY AUDITING CORRUPT PRACTICES CUSTOMS ADMINISTRATION OFF-BUDGET SUBSIDIES INSTITUTIONAL FRAMEWORK As of 2002 , with the adoption of the law on public finance (LPF), the Romanian Government appears to have established a comprehensive legal base for appropriate institutions of public financial accountability. The Country Financial Accountability Assessment (CFAA) recommends that the Ministry of Public Finance maintain the comparability between the key terms, and definitions used in the European Commission (EC) financial regulation. The newly adopted regulatory framework for budgeting, accounting, internal control, internal audit, and the technical assistance projects in these fields, reflect the Government's efforts to meet international best practices in these areas. The CFAA concludes that in order to accomplish these efforts, the Government needs to reinforce its strategic management of the public financial management (PFM) reform, and recommends the establishment of a cross-ministerial committee-based reform management. The CFAA also addresses the need to closely coordinate technical assistance, and training activities in the field of public financial management. The CFAA recommends the continued reinforcement of the Ministry of Public Finance capacity, to monitor compliance with the rules, and deadlines for budget preparation, while it acknowledges the internalization of the remaining extra budgetary funds, into the framework of the LPF. The CFAA concludes that budget data generally appears to be reliable, noticing budget variances are disclosed. As a general recommendation, the CFAA further suggests the MoPF should continuously review, and consider the need to inform Parliament with timely reports, and updated data, on changes made in budget allocations. The overall impression of the CFAA is that decisive progress has been made in recent years, in modernizing budget practices. 2013-07-25T16:41:26Z 2013-07-25T16:41:26Z 2003-12-31 http://documents.worldbank.org/curated/en/2003/12/3029845/romania-country-financial-accountability-assessment http://hdl.handle.net/10986/14600 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Financial Accountability Assessment Economic & Sector Work Europe and Central Asia Romania
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCRUALS ADJUSTMENT LENDING AMBITION ANTI-CORRUPTION APPROPRIATIONS ATTESTATION AUDITING AUDITING STANDARDS AUDITS AUTHORITY BOOKKEEPING BUDGET DEFICIT BUDGET EXECUTION BUDGETING CASH MANAGEMENT COMMERCIAL BANKS DEBT DEBT MANAGEMENT DECENTRALIZATION EBF EXECUTION EXPENDITURE FINANCIAL ACCOUNTABILITY FINANCIAL ACCOUNTING FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL FISCAL TRANSPARENCY FISCAL YEAR GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT INSTITUTION BUILDING INTERNAL AUDIT INTERNAL AUDITING INTERNAL AUDITORS INVENTORY LEGALITY LEGISLATION LOCAL AUTHORITIES MANAGEMENT INFORMATION SYSTEMS NATIONAL ACCOUNTS PAYMENTS ARREARS PRIVATE SECTOR PRIVATIZATION PROGRAM BUDGETING PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC OFFICIALS PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR WAGES REGULATORY FRAMEWORK REPORTING SYSTEMS STATE AGENCIES STATE-OWNED ENTERPRISES SUBNATIONAL GOVERNMENTS TECHNICAL ASSISTANCE TRANSPORT TREASURY WAGES POLITICAL ACCOUNTABILITY PUBLIC SECTOR MANAGEMENT BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT PROCUREMENT ALLOCATION OF RESOURCES BUDGET MONITORING BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY AUDITING CORRUPT PRACTICES CUSTOMS ADMINISTRATION OFF-BUDGET SUBSIDIES INSTITUTIONAL FRAMEWORK
spellingShingle	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCRUALS ADJUSTMENT LENDING AMBITION ANTI-CORRUPTION APPROPRIATIONS ATTESTATION AUDITING AUDITING STANDARDS AUDITS AUTHORITY BOOKKEEPING BUDGET DEFICIT BUDGET EXECUTION BUDGETING CASH MANAGEMENT COMMERCIAL BANKS DEBT DEBT MANAGEMENT DECENTRALIZATION EBF EXECUTION EXPENDITURE FINANCIAL ACCOUNTABILITY FINANCIAL ACCOUNTING FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL FISCAL TRANSPARENCY FISCAL YEAR GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT INSTITUTION BUILDING INTERNAL AUDIT INTERNAL AUDITING INTERNAL AUDITORS INVENTORY LEGALITY LEGISLATION LOCAL AUTHORITIES MANAGEMENT INFORMATION SYSTEMS NATIONAL ACCOUNTS PAYMENTS ARREARS PRIVATE SECTOR PRIVATIZATION PROGRAM BUDGETING PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC OFFICIALS PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR WAGES REGULATORY FRAMEWORK REPORTING SYSTEMS STATE AGENCIES STATE-OWNED ENTERPRISES SUBNATIONAL GOVERNMENTS TECHNICAL ASSISTANCE TRANSPORT TREASURY WAGES POLITICAL ACCOUNTABILITY PUBLIC SECTOR MANAGEMENT BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT PROCUREMENT ALLOCATION OF RESOURCES BUDGET MONITORING BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY AUDITING CORRUPT PRACTICES CUSTOMS ADMINISTRATION OFF-BUDGET SUBSIDIES INSTITUTIONAL FRAMEWORK World Bank Romania : Country Financial Accountability Assessment
geographic_facet	Europe and Central Asia Romania
description	As of 2002 , with the adoption of the law on public finance (LPF), the Romanian Government appears to have established a comprehensive legal base for appropriate institutions of public financial accountability. The Country Financial Accountability Assessment (CFAA) recommends that the Ministry of Public Finance maintain the comparability between the key terms, and definitions used in the European Commission (EC) financial regulation. The newly adopted regulatory framework for budgeting, accounting, internal control, internal audit, and the technical assistance projects in these fields, reflect the Government's efforts to meet international best practices in these areas. The CFAA concludes that in order to accomplish these efforts, the Government needs to reinforce its strategic management of the public financial management (PFM) reform, and recommends the establishment of a cross-ministerial committee-based reform management. The CFAA also addresses the need to closely coordinate technical assistance, and training activities in the field of public financial management. The CFAA recommends the continued reinforcement of the Ministry of Public Finance capacity, to monitor compliance with the rules, and deadlines for budget preparation, while it acknowledges the internalization of the remaining extra budgetary funds, into the framework of the LPF. The CFAA concludes that budget data generally appears to be reliable, noticing budget variances are disclosed. As a general recommendation, the CFAA further suggests the MoPF should continuously review, and consider the need to inform Parliament with timely reports, and updated data, on changes made in budget allocations. The overall impression of the CFAA is that decisive progress has been made in recent years, in modernizing budget practices.
format	Economic & Sector Work :: Country Financial Accountability Assessment
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Romania : Country Financial Accountability Assessment
title_short	Romania : Country Financial Accountability Assessment
title_full	Romania : Country Financial Accountability Assessment
title_fullStr	Romania : Country Financial Accountability Assessment
title_full_unstemmed	Romania : Country Financial Accountability Assessment
title_sort	romania : country financial accountability assessment
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2003/12/3029845/romania-country-financial-accountability-assessment http://hdl.handle.net/10986/14600
_version_	1764428271144927232

Romania : Country Financial Accountability Assessment

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