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    STUDIA NEGOTIA - Issue no. 2 / 2014  
         
  Article:   FINANCIAL AUDIT AS PREDICTION TOOL FOR RISK REDUCTION IN PUBLIC FINANCE.

Authors:  .
 
       
         
  Abstract:  VIEW PDF: FINANCIAL AUDIT AS PREDICTION TOOL FOR RISK REDUCTION IN PUBLIC FINANCE

State budget is the fundamental document of state economy. State budget balance reflects state economy. Deficit reported in a state budget in the long-term threatens long-term effective functioning of a state. This article aims at pointing out risks arising in the public finance of Slovakia and at providing framework proposals of solutions by means of financial audit. Financial audit represents a supervisory tool of a state, as municipalities and self-governing regions are obliged to have financial statements as well as their budgets audited by a financial auditor. In line with the International Standards on Auditing, auditor is an independent person who verifies financial statements and budgets of organisations. 

Keywords: financial audit, public finance, budget, risks
JEL Classification: H6
 
         
     
         
         
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