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The Public Spending Code

In: Business and Management

Submitted By nguraspa
Words 2799
Pages 12
Finance
The Public Spending Code
(Assignment)

Nowadays one of the most important tasks of the government is, to maintain economical stability of the country and determine its future prospects of development. The base of the state’s functionality is the sustainable development of the economy that needs suitable budgeting system and solid financial base. The state budget is the main instrument of the financial resources mobilization. The budget system functionality is mostly depended on it. This fact makes important to study the problems in this field and to refine of this system. It is what is served by the Public Spending Code. The Public Spending Code is the set of rules and procedures that apply to ensure that all existing standards are upheld among the Irish public service. All Irish public bodies are obliged to spend money with care and ensure that best value-for-money is obtained. Public Spending Code is structured by six parts.
1. The introduction – core principals of the code;
2. Part A – general provisions;
3. Part B - appraisal and planning;
4. Part C – the ongoing management, control and ongoing review, evaluation;
5. Part D – user friendly guidance material on the analytical techniques; In this case I would like to discuss three areas of the Public Spending Code: Quality assurance/compliance (QA), value for money and policy reviews and financial analysis. First of all I would like to talk about QA; it is a way to prevent mistakes in production and avoiding problems when delivering solutions or services to customers. Quality assurance was introduced World War II, when munitions were checked and tested for defects after they were produced. QA has two principals:
1. The product should be suitable for the intended purpose; 2. Mistakes should be eliminated.
The main goal of these activities is to...

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