THE FINANCIAL IMPACT OF SAIS’ ACTIVITIES ON THE PUBLIC SECTOR’S RESOURCES. THE CASE OF ROMANIA

Abstract

Supreme audit institutions are key actors in ensuring, through their specific external public audit activities, the accountability for public resources’ management. Their goals are defined by each state’s constitution and generally entail examining and reporting on the lawful, efficient, effective and economical use of public finances and assets. Since SAIs must continuously strive to demonstrate their added value to stakeholders, while also providing an institutional model beyond reproach, quantifying their impact on public finances is of the utmost importance both for SAIs and the entire society. The research aims to analyze the regulatory and reporting framework of the Romanian Court of Accounts from the audit results indicators standpoint, providing a correlational analysis with certain intrinsic and extrinsic variables. The research results are useful for both the professional and the socio-economic environment concerned with assuring the optimal management of public resources, providing insights into a result-based approach.