| CODE | ACC3137 | ||||||||||||
| TITLE | Fiscal Responsibility Legislation and Institutional Structures | ||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||||||
| MQF LEVEL | 6 | ||||||||||||
| ECTS CREDITS | 4 | ||||||||||||
| DEPARTMENT | Accountancy | ||||||||||||
| DESCRIPTION | This study-unit examines in detail the Fiscal Responsibility Act 2014 enacted by the Government of Malta. The objectives of the Act are to strengthen the functions of the government budget. The study-unit shall delve into the requirements of the Act that promote accountability and transparency. The Act imposes more accounting requirements and more accountability, for example, it requires more long term planning and control and holds individual government officials personally responsible to adhere to these plans. Transparency is enhanced because all departments and entities are required to follow government accounting policies, principles, procedures and methodologies. The Act also establishes the Fiscal Advisory Council which should make the government budgetary process more transparent. The functions of this institution shall be examined and compared with similar foreign bodies. The study-unit shall also examine the roles of the National Statistics Office, the Budget Office and the Treasury, as presented in this legislation. Study-unit Aims: This study-unit aims to instill in the students the important requirements of the Fiscal Responsibility Act, and how these affect the duties and responsibilities of Public Sector Accounting Managers. Moreover, it aims to provide the students with a holistic view of the institutions involved in the process of making government accounting processes and reporting more transparent. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Describe and explain how the legal requirements uphold the following budgeting principles: transparency; medium-term stability; fiscal responsibility; equity; efficiency; effective management of personnel spending; and effective financial and asset management; - Analyse the requirements of the Act that affect the duties and responsibilities of Public Sector Accounting Managers; - Describe the roles of the institutions involves in the legal structure. 2. Skills By the end of the study-unit the student will be able to: - Incorporate the requirements of the Act in the job description of Public Sector Accounting Managers. - Provide advice as to how the requirements of the Act can be fulfilled by a public sector entity. Main Text/s and any supplementary readings: - Carabotta, Laura; Paluzie, Elisenda; Ramos, Raul (2017) Does fiscal responsibility matter? Evidence from public and private forecasters in Italy, International Journal of Forecasting, Vol.33(3), pp.694-706 (available from e-journals) - Anca Florentina Gavrilu牛膬 (Vatamanu) (2017) Implications of Fiscal Responsibility on Economic Growth, Acta Universitatis Danubius: Oeconomica, Vol.13(2), pp.55-65 (available from e-journals) - Josette Caruana, Isabel Brusca, Eugenio Caperchione, Sandra Cohen, Francesca Manes Rossi (2018) Financial Sustainability of Public Sector Entities: The Relevance of Accounting Frameworks 鈥� Palgrave Macmillan (forthcoming) - Fiscal Responsibility Act 2014 - Reports required by the Fiscal Responsibility Act (available on the Ministry of Finance website). |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Alfred Camilleri |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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