Iceland : Technical Assistance Report on a New Organic Budget Law

Author/Editor:

International Monetary Fund

Publication Date:

January 12, 2012

Electronic Access:

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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.

Series:

Country Report No. 12/4

Subject:

Frequency:

Quarterly

English

Publication Date:

January 12, 2012

ISBN/ISSN:

9781463932480/1934-7685

Stock No:

1ISLEA2012001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

84

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