INTERNA FINANSIJSKA KONTROLA U JAVNOM SEKTORU

Kostić, Jelena (2012) INTERNA FINANSIJSKA KONTROLA U JAVNOM SEKTORU. In: Usklađivanje prava Republike Srbije sa pravnim tekovinama EU : prioriteti, problemi, perspektive. Institut za uporedno pravo, Beograd, pp. 247-261. ISBN 978-86-80059-85-3

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Abstract

The paper discusses the alignment of the Serbian legal and institutional framework with the acquis communautaire in the area of Public Internal Financial Control (PIFC). The author first analyses the PIFC concept, which comprises of three main components: financial management and control, internal audit and the establishment of a central harmonisation unit for developing methodologies and standards relating to the first two pillars. The author explains that the establishment of internal financial control in the Republic of Serbia started in 2006, and is still in progress. Although significant efforts have been invested in developing the PIFC standards and practices in the Serbian administration, internal control and internal audit are still in the very nascent phase of the development. Therefore, the author concludes that it is necessary to invest significant efforts in further alignment of the Serbian legislation in this area, and strengthen the capacities of all budget users to adopt modern concepts of internal management and control and internal audit, in order to ensure that the public money is spent in the most efficient and effective way.

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