The Innovative Approach for Accounting and Accountability of Government Revenues in Iraq

Abstract

This study indicates that accountability of government revenue procedures are sufficient, adequate, and well developed and illustrates new control bodies that parliament has created (such as the Commission of Integrity) in addition to the Board of Supreme Audit (BSA) to fight financial and managerial corruption. It covers both theoretical and empirical aspects. The theoretical side includes literature review, defining the accountability, audit of revenues, performance audit, taxation policy, and the sources of governmental income. While the empirical side includes studying the economic influence of government revenues in Iraq, different sources of government income, governmental control bodies, and the auditing procedures used by the BSA.This research considers how the contribution of oil revenue and tax revenues can be measured. It shows that the Iraqi Government depends almost totally on oil revenues (about 93% in 2012). The situation has deteriorated since 2003, when Iraq was first occupied, in spite of increased revenue from taxation.The Study highlights that the State should increase its role from different organizations to control all expenditures and develop revenue streams in other sectors. Although there is an emphasis on financial and budgetary measures for financial accountability, the use of non-financial measures in determining outcome accountability is increasing.