scholarly journals STATE FINANCIAL AUDIT OF INVESTMENT PROJECTS AS AN ELEMENT OF PUBLIC FINANCIAL CONTROL

2021 ◽  
pp. 78
Author(s):  
I. Shevchenko
Keyword(s):  
Financial Control ◽  
Investment Projects ◽  
Financial Audit

CURRENT STATE OF REGULATION OF INTERNAL FINANCIAL CONTROL AND INTERNAL FINANCIAL AUDIT IN THE BUDGET SECTOR

2020 ◽  
Vol 1 (9) ◽  
pp. 119-124
Author(s):  
D. R. GINIYATULLINA ◽  
◽  
◽  
Keyword(s):  
Internal Control ◽  
Internal Audit ◽  
Regulatory Framework ◽  
International Standards ◽  
Financial Control ◽  
Budget Process ◽  
Federal Law ◽  
Government Sector ◽  
General Government ◽  
Financial Audit

Since 2013, there has been an active transformation of the regulatory framework related to the implementation of international standards of internal audit in Russian practice, which regulates the organization and implementation of internal financial control and internal financial audit in the general government sector. However, the regulatory framework is constantly undergoing changes that are associated with the need to take into account the specifics of the functioning of these organizations. Particular attention is paid to the development of the methodological foundations of internal financial control and audit on the basis of amendments made by the Federal Law of July 26.07.2019, 199-FZ to the Budget Code of the Russian Federation. In particular, internal financial control was removed from the budgetary powers of participants in the budget process. When these changes were implemented, a lot of questions arose, such as the exclusion of internal financial control as a separate budgetary authority means that this type of control can be omitted, journals and internal control cards are not kept.

scholarly journals The Internal State Financial Control Reform: Tasks, Objectives and Legal Challenges

2020 ◽  
Vol 15 (11) ◽  
pp. 76-94
Author(s):  
A. A. Yalbulganov
Keyword(s):  
Internal State ◽  
Legal Regulation ◽  
The State ◽  
Financial Control ◽  
Improve Efficiency ◽  
Legal Challenges ◽  
Financial Audit ◽  
Functional Forms ◽  
Systemic Nature

The paper examines the objectives, tasks and directions for the internal state financial control in order to improve efficiency of control and supervisory measures. It identifies the reasons that encouraged the legislative and executive powers to transform the state financial control, which have a systemic nature. A significant place is devoted to the functional forms of state financial control—internal financial control and internal financial audit carried out by budget funds administrators other than internal state financial control bodies. Based on the analysis of normative legal and other acts and methodical recommendations the author elucidates the essence of internal financial control and internal financial audit, the balance between them and the internal state financial control and proposes measures to improve the efficiency of the controlling bodies. The paper represents the system and levels of legal regulation of all directions of financial control implemented by executive authorities, suggests methods of ensuring independence of bodies implementing functional forms of financial control.

scholarly journals STATUS AND PROSPECTS OF DEVELOPMENT OF THE STATE FINANCIAL AUDIT AS AN EFFECTIVE TOOL FOR COMBATING FINANCIAL VIOLATIONS

2019 ◽  
pp. 158-168
Author(s):  
Olena SHEVCHUK ◽  
Nataliya ZDYRKO
Keyword(s):  
The State ◽  
Financial Control ◽  
National State ◽  
State Audit ◽  
Financial Audit ◽  
Legislative Framework ◽  
Effective Instrument ◽  
New Form ◽  
Functioning Mechanism

The article defines the essence and proves the effectiveness of such a relatively new form of financial control, such as the state financial audit, which is the most effective instrument in combating budget violations. The concept of state financial audit and inspection in the current domestic legislative framework is analyzed, features of differentiation of these economic categories are noted. The modern problems of the state financial audit are outlined. The main tendencies of conducted state financial audits for the last three years of the functioning of the State Audit Office of Ukraine are noted. The most widespread financial violations, which resulted in losses of state resources during the reporting period, are presented. The necessity of improving the system of domestic state financial control through the development of the state financial audit, which will increase the efficiency of the functioning mechanism of financial control of the budget sphere by the state controlling bodies, is substantiated. The main directions of improvement of the mechanism of carrying out of the national state financial audit are offered.

scholarly journals Public financial control in Ukraine: state, problems, prospects

2021 ◽  
Vol 187 (1-2) ◽  
pp. 163-176
Author(s):  
Hryhorij Kaletnik ◽  
◽  
Nataliya Zdyrko ◽  
Keyword(s):  
Good Governance ◽  
Financial Control ◽  
State Budget ◽  
The Public ◽  
Current State ◽  
Financial Audit ◽  
Compliance Audit ◽  
Performance Audit ◽  
Definition Of ◽  
And Control

The authors assess the current state of public financial control in Ukraine, identifies its main problematic aspects and suggests ways to solve them. There is a direct interdependence between increasing the level of corruption and weakening the effectiveness of public financial control. Forms and types of public financial control are considered depending on controlling subjects. The authors identify forms of public sector audit according to the ISSAI standards which include financial audit, performance audit and compliance audit. The paper touches upon the necessity of legislative introduction of audit of conformity with the corresponding definition of the purpose, tasks, subjects, objects, methods and procedures. It is proposed to implement the Standard for Auditing the Compliance of Public Resources, which will define general provisions, principles and criteria of compliance audit, as well as the procedure for planning, directions, methods and control points in its implementation, generalization and implementation of results. The main generalized indicators of activity of the Accounting Chamber in the period between 2009 and 2019 are presented and the basic trends in the development of the public financial control are covered. It characterizes the number of inspected objects, prepared reports, the volume of detected violations, the number of relevant response documents and the amount of estimated funding. The structure of identified violations in the main areas includes violations of the budget legislation, inefficient management of funds and violations of the administration of the revenue side of the state budget. The basic criteria for carrying out performance audit are defined and their analytical assessment is provided. The main directions of improvement of the public financial control with the use of key characteristics of the concept of good governance are offered, the fundamentals of which include the rule of law, equality, inclusiveness, efficiency, transparency and accountability. It is recommended to introduce and use a unified report on budget offenses, which will facilitate communication between regulatory authorities and allow for receiving, processing and storeing large amounts of information on the results of auditing.

INTERACTION OF SUBJECTS OF INTERNAL FINANCIAL CONTROL DURING THE FINANCIAL AUDIT OF CHIEF MANAGERS (MANAGERS), CHIEF ADMINISTRATORS AND ADMINISTRATORS OF BUDGET FUNDS

2020 ◽  
Vol 2 (6) ◽  
pp. 14-27
Author(s):  
V. V. DVORETSKAYA ◽  
Keyword(s):  
Financial Control ◽  
Financial Audit ◽  
The Subject

The subject of this study is the organization and interaction of internal financial audit units of chief managers (managers), chief administrators and administrators of budget funds that are subjects of financial control, and their powers in relation to the organization and functioning of internal financial audit units in order to assess the effectiveness of internal financial control over the use of budget funds.

scholarly journals Formation of Internal Financial Control and Internal Financial Audit in the System of Executive Authorities

2018 ◽  
Vol 19 (2) ◽  
pp. 267-282
Author(s):  
Aleksey Ogorodnikov
Keyword(s):  
Point Of View ◽  
Financial Control ◽  
Public Authorities ◽  
The Public ◽  
Social And Economic Development ◽  
Financial Audit ◽  
History Of ◽  
Management Functions ◽  
Current Representation

The article provides the history of the formation and organization of financial control and audit from Ancient Greece to modern Russia. The current representation of the concepts of «internal financial control» and «internal financial audit» are determined. The formation of internal financial control and audit in the context of the importance of the management of social and economic development is considered. The article points out the validity and effectiveness of internal financial control and audit in the system of executive authorities. The author describes the interrelation between the availability of internal financial control and audit in the financial and budgetary sphere and the effectiveness of solving social and economic tasks of the public sector of the economy. The article also provides the authors opinion about the classification of responsibilities for the implementation of internal financial control of executive authorities. The article describes the methods of internal financial control and audit that are presented by author as a range of financial procedures in the field of budgetary and financial and economic planning. The internal financial control and audit as one of the most important management functions that is carried out at all levels of subordination is a system of observations and checks of the correct functioning of the public authority in the process of implementation of taken decisions. The author also gives an idea of the current methods of conducting internal financial audit in the system of executive authorities. The article also presents the authors point of view about the concept of internal financial control and internal financial audit in public authorities.

scholarly journals Legal Status of the Accounting Chamber of Ukraine: Current State and Perspectives of Development

2021 ◽  
Vol 81 (2) ◽  
pp. 130-135
Author(s):  
L. V. Borets ◽  
Ya. O. Arbych
Keyword(s):  
Legal Status ◽  
Legal Regulation ◽  
International Standards ◽  
State Agency ◽  
Financial Control ◽  
Control Functions ◽  
The Status ◽  
Financial Audit ◽  
The Law ◽  
High Level

The bases of the legal status of the Accounting Chamber have been studied: rights, duties, responsibilities, principles, purpose, functions, place of the Accounting Chamber among other state agencies and their interaction. It has been emphasized that the Accounting Chamber should be assigned the status of the Supreme Audit Institution in order to harmonize the legal definition of the legal status of the Accounting Chamber with international standards, namely the Lima Declaration of Control Guidelines, which should assist in expanding the powers of the state agency and should facilitate the effective realization of control functions. The authors have studied the problem of compliance of the Accounting Chamber with the principle of independence contained in the Constitution of Ukraine and in the Law of Ukraine “On the Accounting Chamber”. The emphasis has been placed on the fact that the legislator identifies the legal categories of “state financial audit” and “state external financial control (audit)” in the Law of Ukraine “On the Accounting Chamber”, by using the phrase “state external financial control (audit)”. It is the basis for authors to emphasize the importance of adopting a regulatory act, which will be designed to distinguish between basic categories (concepts) in the field of public financial control (audit). The need to consolidate the functions of the Accounting Chamber at the legislative level and their delimitation with the powers of a state agency has been substantiated. The need to supplement the title of the Law of Ukraine “On the Accounting Chamber” with the word Ukraine has been emphasized. The shortcomings of the legal regulation of the institution of responsibility of officials of the Accounting Chamber have been highlighted. The emphasis has been placed on the fact that the mechanism for bringing officials of the Accounting Chamber to disciplinary responsibility is not regulated at a high level. The authors have emphasized on the improvement of normative and legal regulation of the special procedure for bringing guilty persons to administrative liability by authorized persons of the Accounting Chamber for violation of the law. Based on the analyzed experience of the Accounting Chamber of France, the authors have suggested the ways to improve the legal status of the Accounting Chamber of Ukraine.

scholarly journals Revisiting the organization of internal financial control and audit at universities

2021 ◽  
Vol 22 (6) ◽  
pp. 608-623
Author(s):  
Dmitrii A. ENDOVITSKII ◽  
Yuliya I. BAKHTURINA
Keyword(s):  
Higher Education ◽  
Financial Management ◽  
Critical Assessment ◽  
Financial Control ◽  
Institutions Of Higher Education ◽  
Economic Activities ◽  
International Standard ◽  
Common Criteria ◽  
Financial Audit

Subject. This article explores the organizational aspects of control activities of universities. Objectives. The article aims to clarify some individual organizational provisions of internal financial control and audit of universities on the basis of a critical assessment of the positions of domestic and foreign researchers, analysis of the current practices of federal institutions of higher education, and the results of the control activities of their founders. Methods. For the study, we used the methods of analysis, grouping, comparison, and generalization. Results. The article clarifies the objectives of the internal financial audit through including in its formulation a provision on the analysis of the quality of financial management of the institution according to the International Standard on Auditing (ISA) 315. It assesses the ways used by universities for internal financial controls and audits, and it analyzes their irregularities in the financial and economic activities. Conclusions. The article concludes that the concepts and organizational frameworks of internal financial control and internal financial audit have not been finalized. Control activities of universities need to be standardized, including the basis of common criteria for choosing the ways of organizing it. The methods used to organize internal financial control and auditing at universities do not comply with the principle of independence.

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