1, Cristina Batusaru 2, Moldovan Iosif 3, Ramona Ioana Vlada4
Abstract: Objectives: Public imbalances can cause extensive problems both on public finances and economy.
Regardless of the constitution and destination of funds it is absolutely necessary to verify their correct
accounting, collection type and expense in accordance with applicable regulations, and if due attention is paid
to obtain an optimal balance between resources and results. Therefore it is useful to study the role o f public
audit in the formation and use of public funds to indicate its impact on the budget balance. Prior Work: This
paper presents the evolution of synthetic budgetary indicators during 2010 - 2013 and the impact that the
external public audit had on the budget deficit. Appro ach: In order to highlight the importance and necessity
of public audit activity it has b een analyzed its influence in the formation an d use of public funds and the
extent of implementation of the recommendations made in the audit reports. Results: In the study co nducted
we have set out several conclusions regarding definite reality a ccording to which financial resources
materialize a large part of GDP, so that advocates for public performance of the audit. Implications: The need
for pu blic audit can be viewed through the prism of the three classes of economic and financial interests,
namely: the interests of pu blic entities, third party interests of consumers of public goods and services and
state interests. Value: This paper highlights the importance and the impact of public external audit activity on
public financial funds and invites th e interested readers on the topic to get involved by providing feedback in
order to improve this activity in Romania.
Keywords: public audit; consolidated general budget; public revenue; public expenses; deficit
JEL classification: M42; H72
For the general needs of the societies it is necessary to establish a monetary fund available to public
authorities. The funds are based on the value of the transfer of the power of buying from various
individuals and companies to the state and local authorities. From these funds transfers of power
purchasing are made towards various individuals and legal beneficiaries. Therefore, money resource
flows take place both ways - to and from public funds.
Money r elations ar ising between the state and individuals on one hand a nd businesses on the other
hand, in the distr ibution process of gross domestic product a nd national income, regar ding formation,
distribution and use of funds necessary to meet the economic needs of the state are the economic
content of finances. (Dragoescu, 2006)
1 PhD Student at “Lucian Blaga” University of Sibiu, Faculty of Economic Science, Romania, Address: 17 Calea Dumbravii
Street, Sibiu, Romania, Tel.: +40-(269) 21.03.75, Corresponding author: firstname.lastname@example.org.
2 PhD Student at “Lucian Blaga” University of Sibiu, Faculty of Economic Science, Address: 17 Calea Dumbravii Street,
Sibiu, Romania, Tel.: +40-(269) 21.03.75, E-mail: email@example.com.
3 Associate Professor, PhD Student at “Lucian Blaga” University of Sibiu, Faculty of Economic Science, Address: 17 Calea
Dumbravii Street, Sibiu, Romania, Tel.: +40-(269) 21.03.75, E-mail: firstname.lastname@example.org.
4 PhD Student at “Lucian Blaga” University of Sibiu, Faculty of Economic Science, Address: 17 Calea Dumbravii Street,
Sibiu, Romania, Tel.: +40-(269) 21.03.75, E-mail: email@example.com.