THE AUTHORIZING FUNCTION OF BUDGETS IN PUBLIC ADMINISTRATION. THE APPLICABILITY OF IPSAS 24 IN ITALY

This paper begins with the assumption that in many public administrations, budgets are not limited to the role of mere statements to provide additional information; they are authorisations with a legal value that make them autonomous documents. Our aim was therefore to analyse the relations between politicians and managers, focusing in particular on the governance models in use within public administration in Italy and the role of budgeting in these cases. We have also looked at the contents and constraints of IPSAS 24, from which the difficulties of its application in Italy have emerged. Our research has led to a firm belief that IPSAS 24 needs to be supplemented by an international standard specifically dedicated to budgeting. Moreover, this should include a European version which takes into account SEC 95 and the COFOG classification.