Accounting information systems and their use in regional and local governments sector: Quality, efficiency, security and control procedures as (present) challenges

The basic function of accounting information system in local government is production of information on the basis of data processing as a result of financial transactions. This kind of information usually is the foundation and support of information systems management accounting and is conceived as a system for identifying, collecting, processing and exchange of financial and other data used to support decision making.The main object of this paper is to analyse the importance and the impact of use of Accounting Information System (AIS), as well as use of information technology in accounting in whole. Also the authors will analyse the modelling of AIS, establishing quality of financial information, security of model of AIS in local government units, especially in decision making process in AIS and in internal control procedures. The author´s will also give and overview of standards in financial reporting with emphaisis on ISO/IEC 2510: 2011 and XBRL global standard as well as their assessment in use in local and regional governments.