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Iceland Technical Assistance Report on a New Organic Budget Law

This technical assistance report on Iceland focuses on a new organic budget law (OBL). In designing a new OBL, it is important to preserve good features of Iceland’s current legal framework for budgeting. At the same time, any new OBL should address the key weaknesses in the Financial Reporting Act...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Staff Country Reports
Subjects:
Public Administration
Financial Administration & Public Finance Law
Budget Systems
Public Finance & Taxation
Finance, Public; Law And Legislation
Financial Statements
Fiscal Law
Fiscal Policy
Budget Planning And Preparation
Budgeting
National Government Expenditures And Related Policies: General
Expenditure
Accounting
Finance, Public; Accounting
Public Sector Accounting And Audits
Expenditures, Public
Budget
Macroeconomics
Public Financial Management (pfm)
Financial Reporting, Financial Statements
Budgeting & Financial Management
National Budget
Public Finance
Iceland
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This technical assistance report on Iceland focuses on a new organic budget law (OBL). In designing a new OBL, it is important to preserve good features of Iceland’s current legal framework for budgeting. At the same time, any new OBL should address the key weaknesses in the Financial Reporting Act 1997 that prevent it from providing a credible, integrated framework for budgeting. The institutional coverage of the OBL should be expanded to encompass the whole public sector and incorporate an integrated timetable for the entire budget process
Physical Description:84 pages
ISBN:9781463932480

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