| Abstract [eng] |
The modern form of governance is inseparable from the concepts of accountability and responsibility to society. Politicians, public institutions, public sector employees, supported by taxpayers, must be accountable for their activities and the results of those activities. One form of such accountability is the transparency of financial accounting. According to scientists, transparency is a mandatory feature of a modern democratic state. It allows citizens to see the structure of government and its functions, political and financial goals, and how they are implemented. Lithuania lacks research on transparency in the financial accounting of public institutions. Existing research is on a more theoretical level; there are no papers that examine one specific area of the public sector from a financial accounting transparency perspective. However, it also shows that this type of research is needed in Lithuania. In this paper, the transparency of financial accounting is considered the publication of clear, comprehensible, and periodically provided data on the financial activities of public sector institutions. The object of the research is the financial accounting of public sector institutions. The paper aims to develop and empirically test a model for assessing and ensuring the transparency of financial accounting of public sector institutions. The research results obtained by applying the developed model allow us to assume that public institutions are not inclined to disclose full information on financial management assessment disclosures publicly. This shows the overall estimates of the level of disclosure of financial management assessment by hospitals, as the maximum possible estimate is 5. The results obtained in 2017-2019 show that the highest estimate of the level of disclosure of financial management assessment by hospitals is 3.2. It could also be observed that the level of financial accounting quality in 2017-2019 is high in almost all hospitals except RVPL Hospital in 2017, which did not provide financial statements, activity reports, or other financial information. Assessing the financial accounting quality estimate of the maximum level - 3. The maximum result of financial accounting quality estimate in 2017 reached two hospitals RSL and LSMULKK. In 2018 only RSL and 2019 RSL, LSMULKK and RVUL. An empirical study showed that the model is suitable for assessing the transparency of financial accounting in the context of disclosed and accessible information. |
