Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
334,902
result(s) for
"Financial control"
Sort by:
Organizing the State Financial Control in the Sphere of Procurement
The article examines the comprehensive issues of organizing the State financial control in the sphere of public procurement in Ukraine, which is particularly relevant given the current socioeconomic challenges. The aim of the study is to theoretically understand the organization of the State financial control in the sphere of public procurement in Ukraine, taking into account contemporary challenges and legislative innovations. The article analyzes the institutional structure of the State financial control bodies, where the State Audit Office of Ukraine plays a key role. A detailed review of the elements of the State financial control is provided, including legislative regulation, institutional bodies, types of control, effective instruments to prevent violations, and types of liability. The differences between various types of control are shown: monitoring of procurement procedures, verification of purchases, inspection, and the State financial audit. The author places particular emphasis on the monitoring of procurement procedures as the most preventive type of control, which allows for the remote detection and prevention of violations before the reporting of the purchasing entity. The work highlights the grounds for conducting procurement monitoring. The role of public control and the electronic mechanism for appealing violations through the Antimonopoly Committee of Ukraine is separately emphasized. It has been determined that implementing transparent monitoring mechanisms and expanding automatic risk indicators are essential for improving the efficiency of the State financial control. Recommendations have been formulated to expand the scope of monitoring to all types of procurement, as well as to enhance the human resources of controlling bodies. It is underlined that the introduction of effective control mechanisms and the assurance of the inevitability of accountability for violations is the foundation of trust in the State institutions and serves as an incentive for compliance with legislation by contractors. Prospects for further research in this area include assessing the efficiency of control measures and enhancing automated mechanisms for identifying violations in public procurement.
Journal Article
Controlling the Spending of EU Funds in Italian and Polish Law Against the Background of EU Regulations
Spending from the budget of the European Union (EU) should be done correctly, in line with EU and Member State legislation. However, minor or major irregularities cannot be avoided in the disbursement of EU funds, so procedures must be in place to detect and eliminate them. Control procedures are key in this respect. This article reviews the EU regulations that apply to the control of EU spending and analyses the control concepts adopted in two Member States: Italy and Poland. The authors found that in these two countries, the control of EU spending is carried out by a number of actors. Solutions for improvement were identified. The authors find it reasonable to conclude that administrative controls on the use of EU funds in Italy and Poland can be considered as on the path of being effective and efficient.
Journal Article
POSSIBLE SOLUTIONS FOR MODERNIZATION AND COMPUTERIZATION OF OWN PREVENTIVE FINANCIAL CONTROL IN THE MINISTRY OF NATIONAL DEFENCE IN THE CONTEXT OF THE CORONAVIRUS PANDEMIC
The own preventive financial control is also carried out in entities of the Ministry of National Defence based on a customized normative framework, starting from the one established for all public institutions. This normative framework that applies in the army must be updated with the new normative acts adopted at national level (we have in mind OMPF no. 103/2019, Law no. 133/2021 and OMF no. 555/2021), which bring important elements of novelty, especially regarding the integrity of the person designated to exercise the activity of preventive financial control and the performance of the own preventive financial control in electronic form. The exercise of preventive financial control in electronic form was introduced this year by a separate normative act (OMF no. 555/2021), following the Coronavirus pandemic’s outburst in 2020 (which is carrying on in 2021) and obliges public institutions to adopt specific methodological rules for application, in addition to the general framework configured by this regulation. In order to support these provisions, we have set out in this article certain solutions that can be considered by military entities in the process of setting up the own procedures for conducting preventive financial control in electronic format.
Journal Article
Considerations regarding possible directions for improving the method of carrying out financial control in public institutions in Romania
This article aims to analyze the current state and the fundamental role of financial control within public entities in Romania. Through a methodology based on comparative analysis, the study focuses on financial control legislation and practices, highlighting significant developments and changes in recent years. The analysis is enriched by assessing the impact of these changes on the efficiency and transparency of the management of public funds. In particular, the article identifies progress made within the financial control system, highlighting legislative and administrative improvements as well as persistent challenges. Special attention is paid to the impact of the reforms on the transparency of public spending and the accountability of government institutions. The results of the analysis emphasize a gradual tendency to improve financial control practices, but also highlight the continuous need for reform and adaptation to European and international standards. Through this analysis, the article contributes to the existing literature on this topic, providing an updated perspective on the state of financial control in Romania and emphasizing its importance for efficient and responsible governance. In conclusion, the study reveals the vital importance of continuing reforms in the field of financial control, not only to improve administrative efficiency, but also to strengthen public confidence in the way state resources are administered.
Journal Article
The State Financial Control in Ukraine: Directions of Improvement of its Organization and Evaluation
The aim of the article is to examine the essence of the state financial control, identify directions of its improvement and define effective methods for its evaluation. On the basis of the results of analysis of modern scientific works it is determined that the precondition for building an effective state financial control system is defining its role in public financial relationships. According to the data of the conducted study it was concluded that first of all, the state financial control is an instrument of fiscal policy and, therefore, its direct purpose is ensuring a sustainable socio-economic development of the country, i.e., achieving the goal of the fiscal policy. Besides, there revealed the need to harmonize the components of the fiscal policy and types of the state financial control in order to build an effective institutional structure of public administration. It is proved that the division of the state financial control into internal and external must be conducted in accordance with the fact whether the controlling body and the subject under control belong to the same or different branch of power. Also the results of the study suggest that for Ukraine it is expedient to choose the model of a decentralized internal state financial control instead of the existing mixed one in order to avoid duplication by the State Audit Service of Ukraine bodies of partially the functions of the Audit Chamber, and partially those of internal control departments, which operate in the executive branch. There determined inappropriateness of building a system of state internal financial control on the basis of the principles provided for the bodies of the external state financial control. This situation leads to ungrounded definition of the internal control as an object of internal audit, which is carried out by structural units in budget organizations. It is also important to emphasize the need to evaluate managerial decisions in exercising the audit of the control effectiveness in order to increase the responsibility of officials. Prospects for further research are to improve the methodology for evaluating the state financial control in general to identify those of its components that have a negative impact on its entire system
Journal Article
Modernization of the Ukrainian state financial control system in condition of the “Covid” economy
The article investigates the nowadays system of state financial control and analyzes the main principles of its functioning. The risks and threats to the national economy during the coronavirus pandemic was defined. The introduction of new information management systems into the work of state financial authorities to control the targeted and efficient use of budget funds has been substantiated. The definitions of “Covid” economy and financial electronic control were specified. The issue of modernization of state control activity under the conditions of the coronavirus pandemic was considered. The article argues on importance to develop a package of legislative acts to reform the state financial control system. The necessity to create the Supreme institution of state financial control on the basis of the Accounting Chamber of Ukraine was explained. In competence of this bodies will include the organization and implementation of financial electronic control. Authors formulate the requirements for information analytical system of financial electronic control.
Journal Article
Trends in the Development of Audit of Public Finances in the Context of Reforming the System of Public Financial Control
The aim of the article is the theorizing of trends in the development of audit of public finances in the context of reforming the system of public financial control in Ukraine and providing practical recommendations to improve the efficiency of the system of public financial control, taking into account the trends in the development of audit of public finances in Ukraine. In the article there used such research methods as induction and deduction, analysis and synthesis, methods of establishing causation, statistical analysis method. The analysis and research of regulatory legal acts, as well as the results of the activity of the State Audit Service of Ukraine, made it possible to determine the methodology and staffing related directions of reforming the system of public financial control in Ukraine. Measures on the introduction and development of audit of public finances in the activity of public sector bodies and the State Audit Service are planned and the achievements systematized. Based on the analysis of scientific works on the problem and the relevant domestic and international legislation, the classification of audit of public finances as a form of public financial control in the context of reforming the system of public financial control is generalized. There substantiated the directions for increasing the efficiency of the functioning of the system of public financial control, with regard to the trends in the development of audit of public finances in Ukraine. Practical realization of the trends in the development of audit of public finances, determined by the authors of the article, will make it possible to increase the effectiveness of reforming the system of public financial control, which in turn is the determining factor in the reform of the public financial management system, and hence the financial security of the state. In this regard, it is appropriate to focus the further work on studying the best practices of developed countries and world trends in the field of audit of public finances by supreme audit institutions.
Journal Article
The Impact of Financial Reporting Quality on Debt Contracting: Evidence from Internal Control Weakness Reports
We examine the effect of financial reporting quality on the trade-off between monitoring mechanisms used by lenders. We rely on Sarbanes-Oxley internal control reports to measure financial reporting quality. We find that when a firm experiences a material internal control weakness, lenders decrease their use of financial covenants and financial-ratio-based performance pricing provisions and substitute them with alternatives, such as price and security protections and credit-rating-based performance pricing provisions. We also find that changes in debt contract design following internal control weaknesses are substantially different from those following restatements, where lenders impose tighter monitoring on managers' actions, but do not decrease their use of financial statement numbers.
Journal Article