Financial E-Control: Modernization of the State Financial Control System in the Conditions of Digital Economy

2020 ◽  
Vol 52 (10) ◽  
pp. 62-75
Author(s):  
Elena A. Zubareva ◽  
Igor V. Basantsov ◽  
Sergey V. Byelov
Keyword(s):  
Control System ◽  
Digital Economy ◽  
The State ◽  
Financial Control

scholarly journals Internal Control in State Institutions

2021 ◽  
Vol 8 (4) ◽  
pp. 90-101
Author(s):  
F. Yu. Alchinova
Keyword(s):  
Control System ◽  
Internal Control ◽  
Process Management ◽  
Methodological Approach ◽  
The State ◽  
Financial Control ◽  
Budget Process ◽  
State Institutions ◽  
Internal Control System ◽  
Effective Use

The article considers the features of the state institutions activities related to their organizational structure, areas of their activity and the composition of objects under control. It defines the main directions of internal control in the budgetary sphere and reveals the features of the budget process management. The author highlights the topical issues related to the necessity of strengthening the regulation of the state institutions activities and improving the internal control system. The purpose of the research is to analyze the procedure for organizing internal financial control in the state institutions and determine the main directions for its improvement. In the course of the research, the methods of analysis, synthesis, comparison, deduction, logical thinking, and the dialectic method of cognition were used. The peculiarities of the organization of internal control in state institutions are related to the fact that they face a dual task. On the one hand, it is necessary to ensure the rational use of budget funds and resources allocated for the maintenance of their apparatus. On the other hand, it is necessary to ensure control over the rational distribution and effective use of budget funds in subordinate organizations. The actuality of considering the issues of internal control regulation is determined by the necessity of creating a cross-cutting risk-oriented internal control system aimed at the effective use of public resources provided for organizations. The results of the research include the development of a methodological approach to improving the mechanisms of organizing internal financial control in federal executive bodies. It is concluded that strengthening the regulation and unification of internal control in the state institutions contributes to improving the quality of public resource management.

scholarly journals Audit of Financial Statements in the Context of Financial Control

2021 ◽  
Vol 10 (525) ◽  
pp. 305-311
Author(s):  
H. P. Martynyuk ◽  
◽  
M. A. Martyniuk ◽  
Keyword(s):  
Control System ◽  
Financial Management ◽  
Positive Impact ◽  
General System ◽  
Financial Statements ◽  
The State ◽  
Regulatory Control ◽  
Entrepreneurial Activity ◽  
Financial Control ◽  
Control Activity

It is determined that the idea of control activity in the current conditions is becoming widespread in the context of the implementation of the concept of regulatory control service with an emphasis on ensuring compliance with the legislation and access of all eonomic entities to informativeness by types and time of control activities. The strengthening of control and supervision by the State Regulatory Service on entrepreneurial activity over the past three years is proved. It is argued that the introduction of an independent financial control system into the general system of control over the financial activities of enterprise provides for the creation of a comprehensive approach to ensuring an interaction between the State and independent components of the financial control system. It is substantiated and proved that since the audit of financial statements is an integral part of the business activities, especially concerning the large and medium-sized enterprises, its significance can be de classed into main areas, namely: it affects the interests of external and internal users who want to have confidence in compliance with the legislation; presence of a positive audit opinion on the financial condition increases investor confidence; certainty as to the absence of distortions in the financial statements avoids paying penalties and reduces the risks of making wrong managerial decisions. It is established that the audit of financial statements has a pronounced social nature, since it causes a significant influence on the level of trust in the published financial information declared by the business. The advantage and peculiarity of audit control is the condition that its primary task is compliance with accounting legislation and the absence of penalties. The need to audit financial statements in the management system of the enterprise is conditioned. The positive impact of the audit of financial statements, which consists in timely response of financial management to the identified deficiencies and violations that would affect the structure of the enterprise’s expenses, is substantiated.

scholarly journals THEORETICAL PRINCIPLES OF THE FUNCTIONING OF THE STATE FINANCIAL CONTROL SYSTEM

2018 ◽  
pp. 134-139
Author(s):  
Andriana Belia
Keyword(s):  
Control System ◽  
Financial Institution ◽  
The State ◽  
Actual State ◽  
Financial Control ◽  
Study Results ◽  
The Subject ◽  
Limiting Parameters ◽  
State Of Affairs ◽  
Theoretical Foundations

Introduction. The article focuses on the achievements of domestic scholars who have been considering the theoretical foundations of the functioning of the system of state financial control in Ukraine. Purpose. The article aims to analyse and systematize the theoretical foundations of the functioning of the state financial control system. Method (methodology). To achieve the goal of the article, the following tasks have been identified: to investigate the categorical apparatus of the concept of "financial control" (to consider the essence of this category); to analyse the term "state financial control" on the basis of the views of domestic scientists; to investigate the functions of state financial control as an economic category. The object of the research is the functioning of the system of state financial control. The theoretical and practical approaches to the application of the system of state financial control in Ukraine are the subject of the study. Results. The strengthening of the financial position of the state, economic growth by monitoring the achievement of target benchmarks and verification of compliance with the limiting parameters of financial and economic development have been promoted in the research. It has been determined the essence of the state financial institution. Among the main points we can distinguish the establishment of the actual state of affairs and its comply with the requirements of the current legislation as the object of control over the lawfulness; financial discipline and rationality during the formation, distribution, ownership, use and alienation of the subject of control. It means that the assets belong to the state, as well as the use of funds remaining in the subject of financial relations in connection with the privileges granted for payments to the budgets, state off-budget funds and loans, which are received under state guarantees.

scholarly journals Implementation of European Requirements of the State Audit into the National Practice

2021 ◽  
Vol 9 (524) ◽  
pp. 177-182
Author(s):  
L. I. Melnyk ◽  
◽  
A. P. Shot ◽  
Keyword(s):  
Control System ◽  
Current System ◽  
The State ◽  
Modern World ◽  
Financial Control ◽  
Finance Management ◽  
The People ◽  
State Audit ◽  
Control Body ◽  
The Right

The article considers the main tasks of the State financial control body in Ukraine. The shortcomings of the current system of the State financial control are identified and proposals to the State financial control bodies in the system of budget regulation as to improving certain work areas are suggested. The strategy of reforming the public finance management system for 2017–2021 is analyzed and appropriate conclusions are drawn. Areas of improvement are proposed to improve and optimize the work of financial control bodies in Ukraine. After all, the welfare of the people largely depends on the effectiveness of the State financial control, for which reason one of the most important functions of public administration should be directed towards identifying deviations from the adopted standards of legality, expediency and effectiveness of management of both the financial resources and the State property, as well as the timely implementation of the necessary appropriate adjustments and precautions. The modern world requires constant improvement of the financial control system. Ukraine, as a developing country, does not stand aside from this process. Our country is constantly underway to reform the system of the State financial control. Scholars, experts, society leaders are involved, international experience is used. Despite the considerable amount of work already done in the process of reforming the State control system in Ukraine, the formation of a powerful and effective system of the State financial control still remains one of the most important governmental tasks of our time, as evidenced, in particular, by the statistics of the activities of the Western Office of the State Audit Service for 2019–2020, presented in this article. It is important that Ukraine moves in the right direction by improving its system of the State financial control.

scholarly journals Unification of the state financial control system in the context of globalization

2020 ◽  
Vol 59 ◽  
Keyword(s):  
Control System ◽  
Financial Stability ◽  
Internal Audit ◽  
Social Institutions ◽  
Cultural Development ◽  
The State ◽  
Point Of View ◽  
Financial Control ◽  
Social Aspect ◽  
Control Institution

This article substantiates the need for unification of the state financial control system, where unification according to the author is the standardization of the principles and mechanisms of state financial control, which is applicable for any state, regardless of its historical and cultural development. The basic structural elements of the state financial control system were determined to achieve the aim of the research. It was determined that internal audit is important not only for the public sector, as an instrument of control over the use, formation and saving of public finances, but also for the private sector of the economy. In foreign practice, the information base of internal audit is used in risk management to reduce company risks and increase financial stability. The results of the study is the author’s suggestion of the unification of the system of subjects of the state financial control based on the type of control they perform. The proposed system is based on the classification of foreign systems of the state financial control, which has developed historically, and international ISSAI standards. The proposed system considers not only the economic aspect of the institution of the state financial control, but also social and global. Based on the social aspect, the importance of public financial control was proved, because in democratic countries, formed social institutions have an important role in the socio-economic processes of the state. In the system formulated by the author, the significance of creating an appropriate supreme body of the financial control, its impact on the lives of citizens, and the importance of cooperation of subjects of the state financial control with public financial control was substantiated. Thus only with this cooperation is it possible to form an effective unified system of the state financial control, which will provide the socio-economic development of the country. According to a global point of view, the need to improve the importance of the international financial control institution INTOSAI, and the formation of a supranational type of control, which should be included in the state financial control system of each country was substantiated.

scholarly journals The importance of features of the state financial control system

2020 ◽  
pp. 147-153
Author(s):  
K. K. Mamutova ◽  
A. B. Aidarova ◽  
G. E. Maulenkulova
Keyword(s):  
Control System ◽  
The State ◽  
Financial Control
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