Financial Control
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2021 ◽  
Vol 9 (205) ◽  
pp. 1-13
Kelly Regina Costa Gonçalves

Financial management is a topic studied by several authors, due to its paramount importance. However, small businesses, despite occupying a large space in the economic sector, find it difficult to remain in the market. Therefore, this article seeks to demonstrate the importance of accounting information for small business management. Through the qualitative methodology carried out at Miami Rio, it will be possible to identify and evaluate the difficulties that small companies face in managing the financial area. Finally, the work concludes that only through effective financial control is it possible to maintain a growth perspective for small companies.

D.O. Degtyarev

The purpose of the article is to define the concept and types of forms of democratic civilian control over the defense forces. Three aspects are identified in which the forms of democratic civilian control over the defense forces can be considered: 1) the activity aspect, according to which the form of control acts as a complex of actions of its subjects; 2) the analytical aspect, according to which the form of control has its integral element of collecting, highlighting information and data on the controlled object, comparing them with each other, de-termining the patterns and trends inherent in the functioning of the controlled object, modeling the state of the controlled object in the future, depending on the applied management decisions; 3) the organizational aspect, according to which the form of control is a way of organizing the activity of the subjects of control and the con-nections between them. Each of these aspects of the form of control is necessary for the effective implementation of control activities. The definitions of the forms of democratic civilian control over the defense forces as united by a single goal, carried out in accordance with the powers of the subjects of control defined in the acts of military legislation, are formulated for a complex of organizational and analytical measures aimed at achieving the goal of control.It was found that the forms of democratic civilian control over the defense forces should be attributed to the pub-lication of public information, the activities of temporary commissions of inquiry, internal audit, external financial control (audit), judicial control, scientific and applied (for example, sociological) research aimed at determining the actual state of control objects. The validity of classifying official investigations, inquiries and pre-trial investigations forms of democratic civil control raises doubts, taking into account the provisions of paragraph 2 of part 1 of arti-cle 1 of the Law of Ukraine “On National Security of Ukraine”, which defines an exhaustive list of types of control.An analysis of the essence and features of the forms of democratic civilian control over the defense forces allows us to make sure that these forms are inherently connected with the content of this control and are determined by the legal status of its subjects. At the same time, the forms of control can be classified by content, by subjects, by legal consequences for objects of control, as well as by timing.

2021 ◽  
Hristina Peshkova ◽  
Vladimir Pachkun

The monograph examines the practical aspects of the application of the budget legislation of the Russian Federation in judicial practice — the practice of the Supreme Court of the Russian Federation and arbitration courts, as well as the functions of the Constitutional Court of the Russian Federation on the interpretation of budget legislation. The article analyzes the theoretical and legal provisions of law enforcement activities in the field of the budget, as well as the categories of budget and legal science. For legal scientists, graduate students, students of legal educational organizations, as well as practitioners of courts, financial control bodies and other state and municipal institutions.

2021 ◽  
Vol 8 (2) ◽  
Rozaidy Mahadi ◽  
Noor Kaziemah Sariman ◽  
Andy Lee Chen Hiung

There have been many financial scandals associated with religious-based non-profit organisations (RNPOs), their involvement in unethical and wrongdoing has pressured non-profit organisations, especially religious-based NPOs (RNPOs) to start adopting highly transparent and accountable financial management practices. Despite many efforts to improve the RNPOs’ service quality, their integrity has been tinted with many scandalous incidents of funds embezzlement and corruption. Poor financial accountability and lack of legal requirements are argued to be the underpinning reasons for such financial atrocities occurring. With the absence of sound financial governance and comprehensive financial regulations, it has been impaired the government’s ability to detect, prevent and correct RNPOs’ financial misconduct. To prevent financial misconduct from repeatedly occurring, having cogent financial control practices will ensure the RNPOs upholding their accountability duties to the clients they have served. Therefore, the objective of this paper is to examine Malaysian RNPOs financial controls practices. In doing so, various religious-based NGOs’ (i.e. Islam, Buddha, and Christian) representatives were interviewed, analysed, and appraised with Simon’s (1994) control framework. The findings indicate that the RNPOs financial control practices are mediated by the virtue of the religions that they have adopted, the RNPOs’ affiliation (i.e. local-based, foreign-based, and/or semi-government organisation), and the level of sponsorships and grants they have received.

E-Management ◽  
2021 ◽  
Vol 4 (2) ◽  
pp. 44-50
L. O. Gontar

International organizations in their reviews repeatedly state the possibility of using digital platform technologies for the development of the financial ecosystem (technology-centric and banking platforms). The article considers new platform and management approaches to FinTech projects. The paper analyses the reviews of the International Monetary Fund and the World Bank in the development of FinTech and SupTech (smart digital financial control/supervision) directions. The author studies the financial and legal risks associated with the implementation of platform solutions.The paper carries out a brief analysis of the concept of digital money as one of the solutions of FinTech projects. The study considers various types of SupTech: the implementation of neuro-linguistic programming, monitoring of the Internet including social networks, information technology solutions for the formation of operational reporting of supervised organizations. The author considers the case of monopolies of the digital platform of a separate Internet company (antitrust case).Smart control in the digital-financial ecosystem can become a solution to the risk factors associated with the processes of digitalization of the financial sphere. It implies the creation of a digital platform that provides synchronization with the databases of state authorities, creates conditions for the user to communicate with the system operator in real time, a base for cooperation with the digital platforms of other Internet companies.

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Ach Maulidi ◽  
Jake Ansell

Purpose The purpose of this study is to provide theoretical guidance that enables local governments to deal with occupational fraud. Design/methodology/approach The quantitative approach is used to examine the efficacy of the Committee of Sponsoring Organisations of the Treadway Commission (COSO) internal control framework in tackling occupational fraud in local government. To achieve the goals, the authors performed a survey of the Indonesian auditor institutions. Findings It is not appropriate to argue that all types of local government fraud can be deterred by a single internal control. The study suggests that COSO internal controls are not effective for dealing with corruption cases. However, the authors do find the efficacy of those controls are obvious for controlling asset misappropriation and financial statement fraud. This result indicates that if the COSO internal control framework is only designed for routine financial control and asset protection, it significantly and negatively influences its efficacy to deal with occupational fraud. This study has both theoretical and managerial implications, discussed separately. Originality/value In the field of prevention, the authors cannot make generalised theories and approaches for dealing with occupational fraud. Whilst previous authors have offered fraud deterrents in terms of internal controls, they have failed to realise the need to understand their effectiveness for particular forms of fraud. This paper sheds light on the effectiveness of internal controls in achieving their goals. This has both practical applications and stimulates theoretical insights.

2021 ◽  
Vol 39 (6) ◽  
Eli A. Isaev ◽  
Elena A. Fedchenko ◽  
Lyubov V. Gusarova ◽  
Olga A. Polyakova ◽  
Margarita L. Vasyunina

The study is devoted to the problems of organising a state efficiency audit in the Russian Federation, which is a key tool for assessing the utilisation of public resources and the degree of achievement of the country's socio-economic goals. Based on the analysis of foreign practices, the study of problematic aspects of the organisation and implementation of state financial control, such as the audit of the efficiency of the use of public resources, was carried out. The purpose of the study was to investigate the essence and organisational and methodological aspects of conducting such a type of financial control as a performance audit in the public sector of the Russian Federation. In the course of the study, empirical research, comparative and statistical research, synthesis of theoretical and practical material were used. Methods of grouping and classification were used in the processing and systematisation of information. The problem of efficient use of public resources is one of the most pressing issues of the budget process in the Russian Federation. In these conditions, the role of state financial bodies is more important than ever, the purpose of which is to ensure the expediency, legality, and efficiency of the generation, distribution, and use of budget resources.

2021 ◽  
pp. 41-46
Efim Mizikovsky ◽  
Elena Igonina

The article describes the aspects of the regulatory legal regulation of the internal financial audit in the internal affairs bodies and its possible contradictions. Currently, there are no defined boundaries of the internal financial audit of financial and economic activities in the internal affairs bodies, duplication of control measures carried out as part of the audit, and it is difficult to assess the positive impact of the results of the internal financial audit on improving the effectiveness of internal financial control and the use of budget funds. The article proposes to review the evaluation criteria of internal financial audit in the internal affairs bodies in terms of rational and efficient use of budget funds.

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