Digital Transformation In Fiscal Administration: A Pathway To Improved Debt Management And Accountability

Abstract

This study investigates the role of digital transformation in enhancing financial reporting, debt management practices, transparency, and accountability within fiscal administrations. Through a mixed-methods approach involving surveys and interviews, the study explores the impact of digital technologies on improving the accuracy, timeliness, and accessibility of financial information, as well as identifying key barriers and potential risks associated with digital transformation. The findings highlight the significant benefits of digital transformation in streamlining financial processes, fostering transparency, and enhancing stakeholder engagement. However, the study also identifies challenges such as resistance to change, legacy systems, cybersecurity threats, and regulatory compliance issues that must be addressed to ensure successful digital transformation initiatives. Based on the findings, recommendations are provided to help fiscal administrations overcome barriers, mitigate risks, and leverage digital technologies effectively to achieve transparent, accountable, and efficient financial management practices. Overall, this study contributes to the growing body of literature on digital transformation in fiscal administration and provides valuable insights for policymakers, practitioners, and researchers seeking to navigate the complexities of digitalization in the public sector.