Challenges of the local government regulation

Abstract

One of the major problems with the public finance accounting and information system is that, as a consequence of frequent amendments, the opportunity for analysis and comparison has much narrowed, while the long-cherished goals, i.e. to enhance transparency and introduce performance-based accounting, have not been reached and thus the efficiency of the changes has been very low compared to the complexity of the system. Regarding the modernisation of the public finance information system it should be underlined in the beginning that, be it in the field of accounting or in statistics, modernisation should always be shaped according to and subordinated to certain planning and decision aspects.