Accounting analysis and audit

Assessment of the state financial control condition in the public sector

Economic Annals-XXI

Economic Annals-ХХI: Volume 147, Issue 1-2(1), Pages: 106-109

Citation information:
Natarova, O. (2015). Assessment of the state financial control condition in the public sector. Economic Annals-XXI, 1-2(1), 106-109. https://ea21journal.world/index.php/ea-v147-26/

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Olena Natarova
PhD (Economics),
Associate Professor,
Kyiv National Economic University named after Vadym Hetman
54/1 Peremohy Ave, Kyiv, 03680, Ukraine
lenanatarova@rambler.ru

Assessment of the state financial control condition in the public sector

Abstract. Introduction. Actuality of the problem is caused by necessity of creation in Ukraine an integrated information-analytical system of accounting and control, which will contribute to the effective management of public financial resources, reducing violations, theft of financial resources and will improve the overall economic and social climate in the country. Purpose of the article is to study the peculiarities of the financial control organizing in the public sector in different countries, assessment of the state financial control in Ukraine and justification of the need for further reforms of internal financial control, taking into account international experience. The methods of analysis, synthesis, analogy, abstraction, economic analysis are used in the article.

Results. One of the requirements for Ukraine’s accession to the European Union is the implementation of clearly defined principles of state control that are determined in the «Lima Declaration of Guidelines on Control». Therefore, in Ukraine, the processes of the national system of state financial control adaptation to the rules of EU, based on the principles of prevention offences, has started. Nowadays, the implementation of changes through the approval of certain laws and regulations is taking place. However, the study of the basic principles of control in different countries demonstrates the need for their expansion and more accurate implementation of the legislative acts in Ukraine. The study of the started reforms changes in practice shows that an improper level of effectiveness of the state financial system discipline still exists and now there are financial irregularities that lead to loss of material and financial resources.

Conclusion. The proposed expand in the Budget Code of Ukraine consists of the basic principles of control additional display; expansion of terminology of the object definitions and object control, principles and types, principles of conduct and the basic issues of state financial control, its essence and the requirements for implementation. Assessment of the state financial control in the public sector confirms the need for further phased implementation of the planned state internal financial control reforms and development of its methodological foundations.

Keywords: Financial Control; Public Sector; Budget Code; Financial Management; Public Internal Financial Control

JEL Сlassіfіcatіon: G28; H19

References

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Received 20.12.2014

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