Publication:
Croatia : Country Financial Accountability Assessment

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-18T18:02:29Z
dc.date.available2012-06-18T18:02:29Z
dc.date.issued2005-05
dc.description.abstractCroatia focuses much of its modernization efforts on meeting the requirements for accession to the European Union (EU), which include public financial management (PFM). In this context, the relevance of this Country Financial Accountability Assessment (CFAA) is evident. It assesses the legal framework, institutional capacity, and practices, for the core financial control processes, such as budgeting, treasury, and cash management, accounting, financial reporting, internal control and audit, as well as external audit, and parliamentary oversight. The basic approach of this CFAA has been to compare PFM practices in Croatia, with those promoted by relevant international standards, including also a specific set of indicators of fiduciary risk. The report concludes that the overall fiduciary risk is significant. Most of the weaknesses in the PFM arrangements revolve around inefficiencies in the existing financial accounting, and management systems. Moreover, a specific and serious deficiency identified in this report, is the lack of a sound internal control framework in the Ministry of Finance's (MOF) Public Debt Management Section. The CFAA offers a number of recommendations: a) the Minister of Finance should assign an Assistant Minister to develop, and implement a strategic vision for the future evolution, and rationalization of the financial systems; b) the MOF should commission an independent systems audit of the SAP - trademark of financial accounting and management information system - system; and, c) the MOF should establish an inter-ministerial steering committee to oversee the development of the SAP system. Further recommendations include issuing internal audits as referred to the organic Budget Act; initiating legislative changes to establish internal audits; appointing financial controllers; and, the State Audit Office should initiate the proposed legislative changes to the Act and State Audit.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/05/6355625/croatia-country-financial-accountability-assessment
dc.identifier.doi10.1596/8295
dc.identifier.urihttps://hdl.handle.net/10986/8295
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRINCIPLES
dc.subjectACCOUNTING SYSTEMS
dc.subjectANNUAL FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBANK ACCOUNTS
dc.subjectBANKING SERVICES
dc.subjectBUDGET ACT
dc.subjectBUDGET CLASSIFICATION
dc.subjectBUDGET COMMITTEE
dc.subjectBUDGET EXPENDITURES
dc.subjectBUDGET PREPARATION
dc.subjectBUDGET PROCESS
dc.subjectBUDGET PROPOSALS
dc.subjectBUDGET REVISIONS
dc.subjectBUDGET SUBMISSIONS
dc.subjectBUDGETARY ACCOUNTING
dc.subjectBUDGETARY CONTROL
dc.subjectBUDGETARY FUNDS
dc.subjectBUDGETARY SYSTEM
dc.subjectCASH BALANCES
dc.subjectCASH MANAGEMENT
dc.subjectCIVIL SERVICE
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCONSOLIDATION
dc.subjectCROATIAN NATIONAL BANK
dc.subjectDECENTRALIZATION
dc.subjectEBF
dc.subjectEXTERNAL AUDIT
dc.subjectFINANCIAL ACCOUNTABILITY
dc.subjectFINANCIAL ACCOUNTING
dc.subjectFINANCIAL CONTROL
dc.subjectFINANCIAL CONTROLLERS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MANAGEMENT INFORMATION
dc.subjectFINANCIAL MANAGEMENT INFORMATION SYSTEM
dc.subjectFINANCIAL MANAGEMENT INFORMATION SYSTEMS
dc.subjectFINANCIAL MANAGEMENT SYSTEMS
dc.subjectFINANCIAL POSITION
dc.subjectFINANCIAL REGULATION
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT POLICIES
dc.subjectINFLATION
dc.subjectINTERNAL AUDIT
dc.subjectINTERNAL AUDIT FUNCTION
dc.subjectINTERNAL AUDIT UNITS
dc.subjectINTERNAL AUDITORS
dc.subjectINTERNAL CONTROL
dc.subjectINTERNAL CONTROL FRAMEWORK
dc.subjectINTERNAL CONTROL SYSTEM
dc.subjectLAWS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLOCAL GOVERNMENT
dc.subjectMANAGEMENT
dc.subjectMANAGEMENT INFORMATION SYSTEMS
dc.subjectMEDIUM TERM EXPENDITURE
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORK
dc.subjectMUNICIPALITIES
dc.subjectNATIONAL GOVERNMENTS
dc.subjectPEER REVIEW
dc.subjectPRIVATE BANKS
dc.subjectPRIVATIZATION
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC ACCOUNTS
dc.subjectPUBLIC ACCOUNTS COMMITTEE
dc.subjectPUBLIC ADMINISTRATION
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCIAL ACCOUNTABILITY
dc.subjectPUBLIC FINANCIAL MANAGEMENT
dc.subjectPUBLIC FINANCIAL MANAGEMENT SYSTEM
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC OFFICIALS
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectREGULATORY FRAMEWORK
dc.subjectRESOURCE ALLOCATIONS
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.titleCroatia : Country Financial Accountability Assessmenten
dspace.entity.typePublication
okr.date.disclosure2005-10-19
okr.date.doiregistration2025-05-07T11:21:05.757999Z
okr.doctypeEconomic & Sector Work::Country Financial Accountability Assessment
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2005/05/6355625/croatia-country-financial-accountability-assessment
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid711031468026396789
okr.identifier.externaldocumentum000012009_20051019142954
okr.identifier.internaldocumentum6355625
okr.identifier.report31651
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/10/19/000012009_20051019142954/Rendered/PDF/316510rev0HR.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryCroatia
okr.sectorFinance
okr.sectorPublic Administration, Law, and Justice
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicUrban Development::Urban Economics
okr.topicPublic Finance
okr.topicPublic Sector Economics and Finance
okr.topicPublic Sector Development
okr.unitOperations Policy and Services (ECSPS)
okr.volume1 of 1
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