<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This paper investigated the opportunities for public sector improvement by digitalization Financial Management and Control (FMC) system in the Western Balkans (WB) countries. Optimizing business processes within public sector through the digitalization of the FMC system offers opportunities for public sector improvement.</p>
<p>The idea is to analyze the existing legal solutions on FMC system in the WB countries and evaluate the current level of digitalization of the system to find the abilities for improvement FMC. The data obtained through an interview with management persons in the Ministry of Finance of the WB Countries and key experts who worked on behalf of the EU as expert consultants on EU-funded projects. Also, we use secondary data collected by exploring literature and OECD reports. Since the database is limited, we use descriptive statistics to analyze the data and the case-study method. The digitalization of the entire system presented only at the entity and state level in Bosnia and Herzegovina. The research showed that the development of a quality FMC system can be enabled by the digitalization of the entire system. The main contribution of this paper is its focus on digitalization of FMC system, since there is limited research paper on this subject.</p>
</abstract>

This paper investigated the opportunities for public sector improvement by digitalization Financial Management and Control (FMC) system in the Western Balkans (WB) countries. Optimizing business processes within public sector through the digitalization of the FMC system offers opportunities for public sector improvement.
The idea is to analyze the existing legal solutions on FMC system in the WB countries and evaluate the current level of digitalization of the system to find the abilities for improvement FMC. The data obtained through an interview with management persons in the Ministry of Finance of the WB Countries and key experts who worked on behalf of the EU as expert consultants on EU-funded projects. Also, we use secondary data collected by exploring literature and OECD reports. Since the database is limited, we use descriptive statistics to analyze the data and the case-study method. The digitalization of the entire system presented only at the entity and state level in Bosnia and Herzegovina. The research showed that the development of a quality FMC system can be enabled by the digitalization of the entire system. The main contribution of this paper is its focus on digitalization of FMC system, since there is limited research paper on this subject.

Possibilities for Public Sector Management Improvement by the Digitalization of Financial Management and Control System in the Western Balkan Countries

Journal of Forensic Accounting Profession

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

This paper investigated the opportunities for public sector improvement by digitalization Financial Management and Control (FMC) system in the Western Balkans...

Possibilities for Public Sector Management Improvement by the Digitalization of Financial Management and Control System in the Western Balkan Countries

Published Online: Jan 11, 2023

Page range: 56 - 77

Received: Nov 23, 2022

Accepted: Dec 13, 2022

DOI: https://doi.org/10.2478/jfap-2022-0009

Keywords
Digitalization, Management, Public Finance, Western Balkan Countries, Public Internal Financial Control

© 2022 Vesna Novaković et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Possibilities for Public Sector Management Improvement by the Digitalization of Financial Management and Control System in the Western Balkan Countries

Published Online: Jan 11, 2023

Page range: 56 - 77

Received: Nov 23, 2022

Accepted: Dec 13, 2022

DOI: https://doi.org/10.2478/jfap-2022-0009

KeywordsDigitalization, Management, Public Finance, Western Balkan Countries, Public Internal Financial Control

© 2022 Vesna Novaković et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Digitalization, Management, Public Finance, Western Balkan Countries, Public Internal Financial Control