The Role of Governmental Accounting in Achieving Good Governance

Abstract

Good governance represents a fundamental principle in public sector management that emphasizes transparency, accountability, and efficiency in the utilization of public funds. This principle aims to enhance public trust in government institutions while preventing corruption and administrative inefficiency. Public financial accounting and governmental accounting play a crucial role in achieving good governance through the presentation of transparent and accountable financial information. Furthermore, the New Public Management paradigm has significantly influenced public sector reform by adopting private-sector management principles that focus on performance outcomes, efficiency, and managerial responsibility. This study examines the interrelationship between the principles of good governance, accountability, transparency and their implementation within governmental accounting systems. Through a comprehensive literature review, the study provides a conceptual understanding of the role of public accounting in strengthening good governance practices. It also explores the relevance in enhancing accountability and financial transparency in the public sector, thereby contributing to the development of a more transparent, efficient, and performance-oriented government.