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public financial reporting

Do governments report on where the money goes?

Cem Dener's picture

The discussions on budget transparency and open data have been gaining momentum over recent years. Not only is it important that governments publish budget data on web sites, but also that they disclose meaningful data and full picture of financial activities to the public. The question is, how much of the disclosed information and documents are reliable? What is the scope of disclosed information? Is there any reliable information about other important aspects of fiscal discipline and transparency?

A number of fiscal transparency instruments and guidelines have been developed by civil society groups and international organizations to evaluate the existence, regularity, and contents of certain key budget documents published in the public domain and whether the information comply with international standards. However, current instruments do not concentrate on the source and reliability of published information, as well as the integrity of underlying systems and databases from which governments extract data.

Public Participation in the Budget Process in the Republic of Korea

Young Kyu Kang's picture

A recently released Open Budget Survey conducted by the International Budget Partnership (IBP) ranked the Republic of Korea as the top performer in public participation in the budget process. With a score of 92, Korea rose to the top as the only country “that provides extensive opportunities for public participation” (IBP 2012). Of 100 countries surveyed, the average score for public participation in the budget process was 19 out of 100. IBP found that in many countries there are limited, if any, opportunities provided to the public for engagement in the budget process. So what is it about Korea that makes it an exception?