Effective and operational democracy implies not only free and fair elections, but also active and permanent participation of citizens in the political processes. It is imperative to ensure public access to the information concerning the activities and finances of political parties. This publication addresses the issue of public monitoring of party finances as one of the effective tools of keeping politicians accountable, thus contributing to the prevention of political corruption and promotion of open and liable governance system. The worldwide experience shows the immense difficulties of establishing an effective system of party funding that is not open to abuse.