Abstract
‘Public sector accounting, auditing and control in the Former Yugoslav Republic of Macedonia’ by Atanasko Atanasovski and Zoran Minovski offers a concise and comprehensive overview of the organisation of the country and its territorial structure, as well as concise insights on the formulation and execution of central government and local and regional self-government budgets, with the focus on accounting and financial reporting and audit and other oversight (supervision) up-to-date description. The chapter concludes with the notion of challenges and future development paths in public sector accounting and auditing in Former Yugoslav Republic of Macedonia as the candidate country in the accession to the EU, with a clear emphasis on the process of transition accrual-based accounting and the implementation of IPSAS for the purpose of financial reporting by the general public sector, and State Audit Office capacity building.
Former Yugoslav Republic of Macedonia (abbreviated as FYR Macedonia) officially changed its name to the Republic of North Macedonia in February 2019.
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- 1.
The main activity of the Public Enterprise Official Gazette of the Republic of Macedonia is publishing of laws, other regulations and acts in the Official Gazette of the Republic of Macedonia, as well as issuing of official newspaper “The Official Gazette of the Republic of Macedonia,” as an activity of public interest. The publishing of the laws, other regulations and acts is conducted in written and electronic form, available at: http://www.slvesnik.com.mk/doma.nspx.
- 2.
When loans are originated, cash received in exchange of recognised debt to lenders is considered as revenues in a special sub-budget in the year of loan origination/receipt of cash.
- 3.
There are two separate laws for formulation and execution of the central government budget and local government, although the budgetary process is very similar.
- 4.
A separate law is adopted each year using the same title. Each time when adopted, the year of issuance is added. This is why when refering to laws in this chapter, authors refer to the set of laws refering to a few years period.
References
Ministry of Finance. (2006). Strategy for the Development of Public Internal Financial Control in the Republic of Macedonia. Available via http://finance.gov.mk/files/u10/ja_za_PIFC_usvoena_od_Vladata_na_16_02_2006l.pdf. Accessed 14 November 2017.
Minovski, Z., Hughes, J., & Kocevski, A. (2016). Transition to Accrual Accounting in the Public Sector. Journal of Contemporary Economic and Business Issues, 3(2), 75–88.
Nikolov, M., & Dimovska, G. (2017). Assessment of Legal and Regulatory Requirements Related to the Work of the State Audit Office. Skopje: Westminster Foundation on Democracy.
State Audit Office. (2012). Strategy for Development of the State Audit Office 2013–2017. Skopje: State Audit Office. Available via http://www.dzr.mk/Uploads/Strategija_razvoj_2013_2017_001.pdf. Accessed 14 November 2017.
World Bank. (2017). Overview, Country Context for FYR Macedonia. Washington, DC: World Bank. Available via http://www.worldbank.org/en/country/macedonia/overview. Accessed 27 May 2017.
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Atanasovski, A., Minovski, Z. (2019). Public Sector Accounting, Auditing and Control in the Former Yugoslav Republic of Macedonia. In: Vašiček, V., Roje, G. (eds) Public Sector Accounting, Auditing and Control in South Eastern Europe. Public Sector Financial Management. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-03353-8_7
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DOI: https://doi.org/10.1007/978-3-030-03353-8_7
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