Governmental Financial Report System Under The Public Fiduciary Duty

With the development of market economy, as contributors of public resources, thepeople pay more attention to whether the government have a valid use of public property,financial operating conditions.The people allows the government to manage resource,andthe Government is also obliged to be responsible for the effective use of resources. As thebest feedback of financial information,the financial reporting of government is also andetection table which reflects whether the government fulfill its fiduciaryresponsibilities.The fiduciary responsibility which the government should bear includesmany aspects, such as social, cultural, political, economic. The economic Accountability isa very important aspect, and also the focus of this study. Government demonstrate theiracquisition and operations of public resources to the public, the legislature and otherstakeholders through financial reports, which aims to fulfill their fiduciary responsibilitieseconomy. Thus, it is very importmant to research the financial reports of the government.Our research is relatively backward over financial reporting,so the government doesnot yet have a real mature financial reporting system. Strictly speaking, it can only beregarded as an budgetary reporting of financial information, which can not meet the needsof changing times and circumstances. Especially after comparing with western countrieswhich has a more standardized and sophisticated financial reporting system,our financialreport is exposed many deficiencies. Although the latest reform has revised the chiefaccounting system and institution accounting system, the general budget accounting hasnot changed.Therefore, this article will begin to study the goal of financial reporting, regarding theimplementation of public fiduciary duty as the main line, and combined with case study inthe United States, which can draw lessons from its successes, so as to discuss problems existing in the financial report of our government, finally put forward the constructiveSuggestions. To perfect our system of financial reporting, it is importmant to clear theprimary goal of public fiduciary duty, and then adjusting the original accountingconfirmation basis. It is also need to redefine the body of the financial report, and build thefinance of government level,so as to provide the financial information more clearly for thepeople and increase the government’s credibility.