RETROSPECTIVE AND TOPICALITY REGARDING THE INSTITUTIONAL ORGANIZATION AND THE ROLE OF THE EXTERNAL PUBLIC AUDIT IN ROMANIA

The research objectives aim at analyzing the institutional organization evolution of the public sector resources management supervising function, as well as the development and role of the external public audit in Romania. Although the external public audit has a quite short history in Romania, related to the country's accession to the European Union and the requirements that had to be met, our research horizon is much wider, being delimited by the institutional history, for over 150 years, of the supervising function of the public sector resources use. Thus, the research also addresses the financial control, as a precursor to the external public audit. The research methodology is qualitative and interpretive. Following the research horizon, the institutional history, the evolution and the role of the external public audit in Romania are addressed by reviewing the relevant literature, the normative (constitutional and regulatory) framework, as well as the publications portfolio of the Romanian Court of Accounts. The research is useful and relevant as it offers a panoramic image on this important activity in the public funds management and reveals the historical landmarks, which generated significant transformations in the field

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

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

INDICATORS OF THE ECONOMIC AND FINANCIAL PERFORMANCE FOR THE PUBLIC UNIVERSITIES IN ROMANIA

Quantifying the economic and financial performance in public universities represents a current, very interesting and quite a controversial matter of debate given that the accounting information realm is not sufficient explored through the financial analysis. The paper focuses on the ways of measuring the economic and financial performance in public universities in Romania, having as main purpose to provide a set of assessing indicators, by adapting the financial analysis paradigm existing for the private sector, to the public sector particularities. The specific objectives refer to the rentability, self-financing capacity, efficiency of the university expenditures and risk analysis, and the research approach is developed in the context in which either the national law or the international one do not regulate specific indicators for the economic and financial performance analysis within the public sector institution