MONITORING AND RISK MANAGEMENT STRATEGIES IN PUBLIC POLICIES AND PROGRAMS: A COMPREHENSIVE ANALYSIS

Abstract

This research paper aims to overview the relationship between financial reporting and public finance performance, focusing on the detection and prevention of fraud. It emphasizes the importance of coherent monitoring and risk management in public policies and programs. The study suggeststhat transparent financial systemsincrease investor confidence, leading to economic growth. To achieve effective policies, clear measurable objectives, evidence-based approaches, continuous monitoring, cost-effectiveness analysis, long-term impact assessment, stakeholder engagement, transparency, accountability, and effective dissemination of evaluation findings are crucial. The methodology includes publications, legal frameworks, and questionnaire results. The results reveals trends, challenges, and areas for improvement in public accounting and auditing practices. It gathers input from key stakeholders, such as auditors, accountants, and financial officers, allowing policy makers and public sector managers to understand the effectiveness of current practices, their impact on financial reporting, and economic implications for public institutions. Responsibility and fairness in public asset administration are also essential. The focus on moral and expert guidance is expanding, emphasizing respect for moral standards. The public sector's mission is sustainable development, covering direct costs for companies. Public services are prioritized for economic and social development. The Central and Local Governments are responsible for economic functioning, and the client's right to public benefits is fundamental.