This chapter offers a concise and comprehensive overview of the territorial structure and scope of the public sector of North Macedonia, as well as concise insights on the formulation and execution of central government and local and regional self-government budgets, with the primary focus on accounting and financial reporting system, initiatives and frameworks of non-financial reporting, and state audit and other oversight/control systems. The chapter concludes with the notion of challenges and future development paths in public sector accounting, reporting, auditing and control systems in North Macedonia as the candidate country in the accession to the EU, with a clear emphasis on the process of transition to accrual-based accounting and the implementation of IPSAS for financial reporting by the general public sector, and State Audit Office capacity building.