An Analysis of Factors Influencing the Execution of the 90th Article of General Computations Code of Iran (Financial Oversight)

Financial Oversight refers to the supervision of financial practice and policy implementation, as well as reviewing and monitoring of financial transactions and reports. This process includes budget planning, financial management, payroll, general ledger, and internal controls. Financial Oversight involves providing oversight on how funds are spent and managed to ensure that funds are handled in accordance with relevant fiscal policies or to ensure that funds are spent appropriately in compliance with budget policies. Financial oversight is considered as a coordinated set of policies and procedures used by government to ensure that their units operate efficiently and effectively based on applicable policies, regulations and laws. Proper financial oversight provides reasonable assurance that resources are adequately protected from potential errors and irregularities. Regarding the great impact of financial oversight on economy, this study attempted to investigate the relationship between financial oversight and its sub-variables including accrual accounting, after spending oversight, steps to spending, the number of units assigned to financial controller, uniformity, competence of auditors, job and financial autonomyin Irans Ministry of Economic Affairs and Finance and Government Accountability Office. The obtained results indicated that except than the number of units assigned to financial controller that has negative relation with financial oversight, all other sub-variables have positive relation with financial oversight. Also the obtained findings revealed that competence of auditors, job and financial autonomy, and the number of units assigned to financial controller have the greatest impact on financial oversight while steps to spending has the least impact.