Ensuring transparency of key public finance authorities

  • 331 Views
  • 18 Downloads

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License

Nowadays, there is a constant need for managing large amounts of information in public finances to identify existing and prevent future cases of illegal use of financial resources of citizens. The openness of information of key public finance authorities has a powerful anti-corruption effect and has a beneficial effect on economic development, while transparency of public finances is a factor in the successful implementation of the reform of all spheres of the economy.
The purpose of the article is to develop a methodology for assessing the institutional and political transparency of the leading public finance authorities in Ukraine and its practical application on the example of the Ministry of Finance and the State Fiscal Service of Ukraine. The methodology includes six main stages, based on which the transparency index of public finance authorities was calculated. Constant calculations of the index will motivate the interaction of stakeholders and non-governmental organizations to increase the openness of public finance authorities in public finances, and the digital data settlements themselves can be used to develop recommendations to increase the level of transparency of the activities of key public finance authorities. Approbation of the developed transparency index of public finance authorities on the example of the Ministry of Finance and the State Fiscal Service of Ukraine made it possible to calculate the percentage of openness of data published by the indicated institutions. Based on quantitative calculations, practical recommendations were made for improving the completeness, reliability, availability and timeliness of published information.

view full abstract hide full abstract
    • Table 1. The system of indicators for ensuring the level of transparency in the evaluation of the activities of key public finance authorities
    • Table 2. Conditional indication of transparency indicators of the key public finance authorities
    • Table 3. Conditional indication of the specific weight of indicators of transparency of the public finance authority
    • Table 4. Conditional indication of the specific weight of the block in the overall assessment of the transparency of the public finance authority
    • Table 5. Distribution of points in the system of indicators of transparency by the level of availability and completeness of information disclosed by the Ministry of Finance of Ukraine (MFU) and the State Fiscal Service of Ukraine (SFSU)
    • Table 6. Output data for the calculation of the transparency index
    • Table 7. Indicators of transparency of the Ministry of Finance of Ukraine and the State Fiscal Service of Ukraine
    • Table 8. Specific weight of each block in the overall definition of the level of transparency of the Ministry of Finance of Ukraine and the State Fiscal Service of Ukraine