KNOWLEDGE MANAGEMENT OF MODERN PUBLIC ACCOUNTING PRACTICE

Global and national agendas focus increasingly on the harmonization and development of strong principles, directions and policies, not only concerning economical and financial issues, but also regarding accounting and reporting processes. In this context, governments play an important role in securing adequate levels of efficiency and transparency of public funds spending. This paper analyzes the current framework of standards and regulations in different EU member states and their influences on national public accounting systems. New advances in information technology offer both opportunities and challenges for policy makers in their attempt to improve decision-making processes and promote competitiveness. The current paper uses both quantitative and qualitative methods to describe these processes in various EU member states. Results and conclusions of the study are of interest to policy makers and reflect tendencies for developments according to International Public Sector Accounting Standards.