FINANCIAL GOVERNANCE STRUCTURES AND PRACTICES IN CANADIAN GOVERNMENTS

Raili M. Pollanen
Carleton University
ABSTRACT
This study reviews and models major financial governance structures and practices in
Canadian governments. Political, legal, and institutional structures complicate effective financial
governance in Canadian governments. These factors may have delayed the adoption and
implementation of some key financial governance practices such as accrual-based financial
reporting in Canadian governments. Nonetheless, significant progress has been made in the
Canadian public sector during the past 10-15 years to bring such financial governance practices
closer to those used in several other Anglo-Saxon countries. These initiatives have been propelled
by increasing public demands for greater accountability and transparency concerning government
operations and finances.