Public Sector Accounting and Budgeting

Public Sector Accounting and Budgeting

Public financial management reforms: An ongoing journey to good governance

Document Type : Review Article

Author
Qeshm Investment and Development Company, Qeshm, Hormozgan, Iran
Abstract
The present article provided a better understanding of the impact of the background factors on the process of Public Financial Management Reforms (PFMR). Employing a modern public financial management approach proportionate to the environmental characteristics of Iran can help to achieve integrated information systems, realist financial statements, and facilitates decision-making by the creditors in investment opportunities, besides, improves the corresponding through providing reports regarding the performance and assessment of the potential of the government to fulfill their commitments and budget. Most countries who are members of the Organization for Economic Co-operation and Development (OECD), put in place accounting and budgeting reforms in the governmental sectors. Besides, most of the emerging economies follow a similar path. The present article studied the problems in the pioneer countries and the obstacles and challenges the developing countries face regarding the reforms in the financial management systems of the public sector. Finally, the present study will investigate the strategies for the public sector financial management reforms, its processes, and prerequisites plus the detection tools for measuring the strength of the public sector financial management besides the reforms in the public financial management system in Iran. 
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Volume 1, Issue 2
December 2020
Pages 50-63

  • Receive Date 02 February 2021
  • Revise Date 14 February 2021
  • Accept Date 03 March 2021