Tag Archives: PFM

The legislature’s ex post control of public finances (Part 2)

In this Part 2 on regulating the legislature’s ex post control of public finances we provide reference regulation for oversight of the government’s finances and expenditure. Part 1 covered substantive questions to consider for the ex post control of public financial management (PFM) and the international, multilateral and regional regulatory standards for legislative scrutiny. Continue reading The legislature’s ex post control of public finances (Part 2)

The legislature’s ex post control of public finances (Part 1)

Democratic governance requires government finances to be administered and supervised well so that public goods and services contribute to the prosperity of the state and its citizens. The legislature plays an important role in the public financial management system as an institution of oversight. Parliamentary oversight of government finances can be separated into two broad phases: consideration and approval of the government’s plans for the raising and spending of revenue ex ante, through the proposed budget; and the monitoring of expenditure ex post, to ensure that it has conformed to the terms which parliament approved. This howtoregulate article will focus on the monitoring of expenditure ex post and the regulatory controls necessary to maximise the effectiveness of parliament’s role. Continue reading The legislature’s ex post control of public finances (Part 1)