Public finance covers the revenue, the expenditure, the balance and the debt of the State and of its constituent bodies. The financial and accounting work of public actors comprises the preparation of budgets and accounts, the collection of taxes, the execution of expenditure, and control. AUDICO’s public finance department supports those working in the sector across all of these.
Broadly speaking, “public finance” carries several senses. It refers, first, to the system by which the resources, charges and accounts of public entities are organised and managed — the State, local authorities, public bodies, public establishments and every structure closely dependent on the State or on local authorities. It is also commonly defined as the study of the resources, charges and accounts of public bodies, meaning principally the State and its constituent parts.
AUDICO’s work covers both of these understandings.
A firm command of the techniques for organising and managing public finance should contribute to the sound and effective management of public entities’ resources, charges and accounts — through objective programmes and projects that are properly planned, and through systems of organisation, management, monitoring and control that are effective, operative and efficient.
The sound management of public entities’ resources, charges and accounts is one of the principal engines of a country’s sustained and sustainable social and economic development and growth.