Modernization of the Public Accounting Systems in Central and Eastern European Countries: The Case of Romania
The government of Romania is presently pursuing a wide-ranging public sector reform agenda, part of which will be the need to develop public financial systems to meet international and European best practice and comply with ESA 95 and GFS. This is part of the overall Pre-accession Agreement which will allow Romania to progress as a Candidate Country and achieve full membership of the European Union in 2007. This article carries out a study of recent developments in government accounting and, in particular the introduction of accruals accounting to replace cash accounting. It examines the application for EU membership as a motivation for change in the countries of central and eastern Europe and then details the process in Romania. The article then reviews theories of governmental accounting innovation in the light of the Romanian experience before drawing some conclusions.
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