Audit in the service of revenue increase: A tool for boards and committees of local authorities

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Alkiviadis Karagiorgos ORCID logo, Stamatis Stamatis, Paschalia Plioska, Olga Koutri

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Governmental funding is on a continuous decline. It is clear that local authorities need economic self-sufficiency and autonomy. In this context, public boards must utilize different revenue maximizing strategies from direct taxation and their own income. This paper attempts to investigate the extent to which a number of factors such as organization, human resources, legislation, cooperation and the use of information systems influence the effectiveness of local authorities’ revenue attestation, making particular reference to the important role that internal and external audit can play in the process. The results of the survey can help councils of local public organizations in their decisions regarding strategies and goals based on the utilization of the identified factors. For the purposes of this paper, a questionnaire was sent electronically to all municipalities in Greece. In particular, descriptive statistics and regression analysis were used. The results of the regression model revealed that audit, cooperation, and human resources variables exercise a significant positive influence on the effectiveness of local authorities’ revenue attestation.

Keywords: Audit, Local Authorities, Board, Committee Revenue, Greece

JEL Classification: M42

Received: 19.03.2019
Accepted: 24.04.2019
Published online: 07.05.2019

How to cite this paper: Karagiorgos, A., Stamatis, S., Plioska, P., & Koutri, O. (2019). Audit in the service of revenue increase: A tool for boards and committees of local authorities. Corporate Board: Role, Duties and Composition, 15(2), 8-17.