ACCOUNTING AND AUDIT
LOVINSKA Ljudmyla 1, DYACHENKO Iakiv 2
1Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0001-5427-7185
2SESE “The Academy of Financial Management”
METHODICAL APPROACHES TO MONITORING OF COMPLIANCE AND ENFORCEMENT OF INTERNATIONAL ACCOUNTING STANDARDS IN THE PUBLIC SECTOR
The basic principles of the monitoring of compliance of accounting standards in the public sector system in Ukraine are described in the article. The approaches to building the enforcement mechanisms of compliance such standards are viewed. The importance of such monitoring and enforcement in countries with transition economies is highlined. The factors that improve financial reporting in the public sector, such as compliance with the law; ensuring quality control; responsibility and accountability; the fight against corruption; effective government solutions, political stability are defined. The main problems of implementation of national accounting standarts in Ukraine, which are based on IPSAS are identified. Statistical information on government activity in Ukraine and in the world is analyzed. The internal and external risks which are specific to the management of public sector, including the ineffective, inefficient use of budgetary funds, abuse of power, corruption etc. are considered. The connection between the level of shadow economy and corruption, and the accounting system is demonstrated. The proposals on monitoring of compliance and enforcement of accounting standards, developed in accordance with the IPSAS for public sector entities are formulated. The necessity of implementation of monitoring of compliance and enforcement of international accounting standards in the public sector to the national finance system and the development of its basic principles at the international level, as well as the corresponding methodical support for its implementation is justified.
Keywords:accounting in the public sector, monitoring compliance and enforcement of accounting standards, NSAPS, IPSAS.
JEL: M41, M48.
Lovinska L. . METHODICAL APPROACHES TO MONITORING OF COMPLIANCE AND ENFORCEMENT OF INTERNATIONAL ACCOUNTING STANDARDS IN THE PUBLIC SECTOR / L. . Lovinska, I. . DYACHENKO // Фінанси України. - 2016. - № 6. - C. 72-.
| Article original in Ukrainian (pp. 72 - 81) | Download | Downloads :891 |
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