INSTITUTIONAL SPECIFICS OF FINANCIAL ACCOUNTABILITY AND TRANSPARENCY
DOI:
https://doi.org/10.60078/3060-4842-2025-vol2-iss5-pp303-311Abstract
The article explores the theoretical and practical aspects of the institutional characteristics of financial accountability and transparency. It examines the reforms implemented in Uzbekistan aimed at modernizing the public financial management system, enhancing budget process openness, and gradually adopting international financial reporting standards. Based on international experience (Finland, Canada, South Korea, Australia, Sweden), the study highlights the key factors that ensure effective financial accountability and transparency: real-time data disclosure, institutionally independent auditing, and the use of digital technologies. Uzbekistan’s PEFA scores and Open Budget Index results are analyzed, identifying existing challenges and suggesting policy directions for improvement. The findings demonstrate that strengthening national legislation, adopting internationally standardized reporting formats, expanding public participation, and introducing modern digital technologies are crucial for consolidating the institutional foundation of financial accountability and transparency
Keywords:
financial accountability transparency institutional environment public finance PEFA indicator Open Budget Index independent audit digital technologies public participation UzbekistanReferences
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