Dívida pública na atividade financeira dos entes subnacionais e o controle pelos Tribunais de contas: rendering of accounts ou accountability?

The topic of public debt is relevant in Brazil, with a history of debates about its impact on the budget. Despite being viewed negatively, it makes up the State’s financial activity and is recognized as an essential tool for financing long-term investments and must be well managed. Public debt control involves cooperative, administrative and normative methods, and in Brazil control through legal and administrative standards prevails, carried out by various institutions, such as the Senate, Ministries, Central Bank and the Audit Courts. The Audit Courts have a constitutional mandate to monitor public debt, but are often limited to formal analyzes of government accounts, without qualitative assessments or in-depth audits. Studies suggest that the Courts of Auditors should expand their functions, carrying out operational audits and monitoring to improve the efficiency of the use of public resources and meet accountability demands. Poor management of public debt, whether in contracting or execution, compromises economic and social sustainability, requiring joint efforts between regulatory bodies and managers to ensure transparency, efficiency and intergenerational justice.