Italy: Report on Observance of Standards and Codes—Fiscal Transparency Module Update

IMF Staff Country Reports, November 13, 2003

Source details

Canonical URL

Italy: Report on Observance of Standards and Codes—Fiscal Transparency Module Update

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: November 13, 2003
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451819847.002

Executive summary

• During the 2003 Article IV Consultation mission, IMF staff reviewed developments in Italy's observance of fiscal transparency practices.
• Objectives of the review:
  • Update changes in current practices.
  • Review progress in implementing the initial report on observance and codes (ROSCs) recommendations.
  • Identify developments relevant for future observance of good fiscal transparency practices.
• IMF staff recommendations in the first ROSC for Italy focused on four main areas:
  • clarity of roles and responsibilities;
  • public availability of information;
  • open budget preparation, execution, and reporting; and
  • assurances of integrity.

Findings and thematic areas

• Clarity of roles and responsibilities:
  • The ROSC recommendations emphasized improved definition and communication of institutional roles in fiscal management and transparency.
• Public availability of information:
  • The review assessed accessibility and comprehensiveness of fiscal information made available to the public.
• Open budget preparation, execution, and reporting:
  • The mission examined procedures and practices across budget preparation, execution, and reporting to evaluate openness.
• Assurances of integrity:
  • The review considered mechanisms that support the integrity of fiscal data and processes.

Subjects and keywords

• Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Fiscal accounting and reporting, Public financial management (PFM)
• Keywords: budget appropriation, Budget execution and treasury management, Budget planning and preparation, CR, execution, execution procedure, Fiscal accounting and reporting, government, ISCR, RGS, ROSC, staff recommendation

Content in this bundle

• Italy: Report on Observance of Standards and Codes - Fiscal Transparency Module Update - ISCR/03/353
  • Italy: Report on Observance of Standards and Codes - Fiscal Transparency Module Update - ISCR/03/353 (Markdown version)
  • Italy: Report on Observance of Standards and Codes - Fiscal Transparency Module Update - ISCR/03/353 (PDF)