INSTITUTIONS RESPONSIBLE FOR AUDITING AND CONTROLLING PUBLIC RESOURCES

To successfully deliver public goods and services in order to meet the needs of a society in a continuous growth, it was necessary to establish public resources available to the public sector. The formation of financial resources at the disposal of the state and their distribution to different institutions to cover the public needs is presented through the procedures used for the allocation of resources, with a strong emphasis on the relationship between the budgetary revenues and expenses. The traditional view of public finances emphasizes public spending, which means obtaining resources in advance to cover the needs, without considering their impact on the life quality of citizens. The modern view on public finances is focused especially on the effects that public expenses generate on the society as a whole.