, (Risk Management as an Element of the Financial Management and Control System)

2014 ◽  
Author(s):  
Sevdalina Dimitrova ◽  
Venelin Terziev
Keyword(s):  
Risk Management ◽  
Control System ◽  
Financial Management ◽  
And Control

Analysis on Domestic Factoring Risk Identification Based on Bussiness Processing Technology

2013 ◽  
Vol 739 ◽  
pp. 673-677
Author(s):  
Guo Ping Cheng ◽  
Di Tang ◽  
Bei Bei Liu
Keyword(s):  
Risk Management ◽  
Control System ◽  
Business Process ◽  
Risk Evaluation ◽  
Risk Identification ◽  
Identification Methods ◽  
Basic Model ◽  
Risk Management System ◽  
New Ideas ◽  
And Control

Based on the study of basic risk identification method, this paper analyzes domestic factoring risk identification methods and puts forward the basic model based on business process of domestic factoring risk identification, then provides the new ideas for risk identification, the paper lays the foundation to domestic factoring risk evaluation and control system, so it is good to construct a complete, standard domestic factoring risk management system.

scholarly journals The Council of Europe and Control System in Local Self-Government of the Slovak Republic

2016 ◽  
Vol 16 (1) ◽  
pp. 143-152
Author(s):  
Katarína Baničová
Keyword(s):  
Control System ◽  
Internal Control ◽  
Financial Management ◽  
Slovak Republic ◽  
Public Investment ◽  
Control Activity ◽  
The Public ◽  
The Individual ◽  
And Function ◽  
And Control

Summary The control system of the public administration of the Slovak Republic is regulated by several laws, on top of which stands the very Constitution of the Slovak Republic. The control activity is carried out by the authorities that are delegated to carry out checks directly from the Act, whose objective is to determine the objective status of the facts, and the management of financial management and other means of public investment. The main objective of the article was to analyze and present effectivity and function of internal control system in the individual municipality size categories in the Slovak Republic

scholarly journals A "forest" of concepts and solutions in internal audit regulations

Revizor ◽  
2021 ◽  
Vol 24 (93) ◽  
pp. 47-53
Author(s):  
Olivera Radović
Keyword(s):  
Control System ◽  
Public Sector ◽  
Financial Management ◽  
Internal Audit ◽  
Unanswered Question ◽  
Public Funds ◽  
The Public ◽  
Common Criteria ◽  
Audit Reports ◽  
And Control

The Law on Budget System stipulates that the head of public funds is responsible for establishing and providing conditions for adequate functioning of internal audit. The Rulebook on Common Criteria and Standards for the Establishment, Functioning and Reporting of the Public Sector Financial Management and Control System stipulates that the head of internal audit reports directly to the head of the user of public funds. The unanswered question is who is the manager of the user of public funds.

scholarly journals Sustainability and Control Issues of the Financial Management of Local Governments – Through Hungary’s Example

2019 ◽  
Vol 8 (2) ◽  
pp. 53-57
Author(s):  
Csaba Lentner
Keyword(s):  
Control System ◽  
Financial Management ◽  
Local Governments ◽  
Operational Risk ◽  
Fiscal Rules ◽  
Reform Process ◽  
Control Mechanisms ◽  
Major Reform ◽  
And Control

Abstract The rules and control mechanisms pertaining to the financial management of local governments enhance the sustainability of their budgets, that is, they have an operational risk mitigating effect. This paper presents the Hungarian system of self-government, and its fiscal rules, which have undergone a major reform since 2011, and the system of duties and financing have been aligned. The paper evaluates the reform process that commenced in 2011, and the effectiveness of budgetary regulations. The second half of the paper presents the control system of Hungarian local governments, the strengthening of which also has promoted the sustainability of financial management.

scholarly journals CONTROL OF QUALITY AS AN IMPORTANT TOOL FOR DEVELOPMENT OF INTERNAL CONTROL

2019 ◽  
Vol 48 (05) ◽  
pp. 5-7
Author(s):  
Tatia Udesiani
Keyword(s):  
Control System ◽  
Internal Control ◽  
Financial Management ◽  
Internal Audit ◽  
Internal Controls ◽  
Public Institutions ◽  
The Public ◽  
Internal Control System ◽  
Effective System ◽  
And Control

Development of internal controls is a highly important issue for the organization, especially for public institutions, because internal control system creates mechanism to effectively utilize human, financial and time resources. Public institutions are characterized by various risks, such as: uneconomic and unreasonable spending of budget funds, corruption, fraud and so on. In order to reduce these and other risks, it is important that organizations have an effective system of internal control. The internal control system in the public sector is regulatedby the relevant legislation and standards, which determines that internal control includes: Financial management and control system. Functionally independent internal audit and Harmonization Center. Each of them is an integral part of internal control. Their independence is the prerequisite for the existence of an effective system. The article presents results of our research carried out by the internal audit benefit and quality.

scholarly journals Influence of New Public Management Philosophy on Risk Management, Fraud and Corruption Control and Internal Audit: Evidence from an Australian Public Sector Organization

2019 ◽  
Vol 18 (4) ◽  
Author(s):  
Anup Chowdhury ◽  
Nikhil Chandra Shil
Keyword(s):  
Risk Management ◽  
Control System ◽  
Public Sector ◽  
Private Sector ◽  
Financial Management ◽  
Public Management ◽  
New Public Management ◽  
Internal Audit ◽  
The Public ◽  
New Public

Research Question: This study will explore how private sector financial management technologies (specifically, risk management system, fraud and corruption control system and internal audit) become embedded in a selected public sector organisation. Motivation: The motivation for this study is to explore how private sector financial management control tools contributed to and shaped new organisational culture within the public sector organisation. Idea: The idea was generated from the philosophy of New Public Management which was based on the premise that using the private sector tools, the public sector would be efficient and at the same time effectiveness would be improved (Chowdhury and Shil, 2017). Data: Qualitative research approach was adopted and data was collected in the case study tradition. Twenty top, mid and junior level executives from a selected Government Department in the Australian Capital Territory were interviewed (Chowdhury and Shil, 2016). Tools: The main data sources were interviews and archival official documents. Another tool used was direct observation which helped researchers to support the archival documents and interview data. Data were analyzed using the approach provided by Miles and Huberman (1994). Findings: Findings of the study revealed that strategic risk management is a part of the business planning life cycle of the researched Department and business units review their strategic risks as part of their business planning process. In the Department it is evident that fraud and corruption control system is a part of their cultural environment. The Department has established an independent Internal Audit and Review Unit, who provides service to management to meet all prescribed statutory responsibilities within a performance improvement environment. Contribution: The findings of the present study are expected to increase our understanding about the private sector control devices used in a public sector context and this study will be of value to the academic researchers and practitioners. The study may be useful to the policy makers also who are engaged in formulating new public sector policies. Moreover, the findings reported on this study would be useful to the public sector managers in their day to day decision-making process.

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