The Problem of Classification of Financial Control in the Republic of Belarus

Journal of Security and Sustainability Issues

The article deals with the study of the financial security of the state as a component of its national security. It has been established that financial security is state's ability to react in an adequate and immediate way to internal and external negative financial influences in peacetime and in emergency situations, in particular in the context of a hybrid war. It has been established that the components of the financial security of the state are banking, debt, budget, currency and monetary security. It has been found out that corruption, financial and economic crime, hybrid war, fiscal decentralization, and lack of a strategy to protect the financial and economic interests of the state are threats to the financial security of the states in the present conditions. At the same time, proper protection of the financial security of the state against internal and external threats is possible only in case of quality management of the financial and economic sphere, first of all, this is the identification of threats to the financial security of the state, conducting of financial control, and counteraction and combating against financial and economic crimes, which is the task of law enforcement agencies. The development of the idea of creating a single law enforcement agency of Ukraine empowered to prevent, detect, suspend and investigate financial and economic crimes was considered. For comparison, attention was drawn to foreign experience, namely Italy,

Springer eBooks, 1992

STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION

In Romania, financial reporting accountant is governed by Accounting Low number 82/1991, republished, and O.M.F.P. 3.055/2009 approving the accounting regulation in accordance with European Directives. To these are added the International Financial Reporting Standards (IFRS, IAS and IFRIC) of which must take into account certain Romanian legal persons in accordance with applicable regulations. Therefore this paper presents the main points of the control from the two types of accounting regulations perspective (national and international) applied in our country.

55th International Scientific Conference on Economic and Social Development, 2020

The article mainly examines the implementation of state policy for financial resources. Financial resources play an important role in the structure and regulation of market relations. According to modern views, the impact of financial events on economic events and vice versa is one of the main features of today. In the past, financial events were not felt in the economic and social spheres due to low government spending and incomes. Now the situation has changed. Large-scale financial events have profound economic and social consequences. For this reason, one of the most urgent issues of the day is the proper management of financial events by the state and its effective use in solving economic and social problems. Development in modern times is the main goal of economic policy. Fiscal policy, monetary policy, budget spending, capital investment, and current development spending play an important role in increasing per capita national income, improving and improving the economic and social structure, and, in short, ensuring economic development. The ability of budget spending to achieve development depends on financial resources. Development expenditures should come from sound financial resources. The market economy is based on private entrepreneurship and private ownership. Inequality in income distribution manifests itself. Fiscal policy can be used as an effective tool to improve income distribution and living standards. The progressive tax system is one of the important tools for this purpose. Budget spending can also play a major role in this area. Spending on the education, health, and social security systems and their suitability rates are also important.

Megatrend revija, 2020

Bearing in mind the legislation that sets out the principles of sound financial management, a good understanding of the internal control mechanisms and how they work in practice is necessary. The established level of financial management and control among users of public funds is of unequal quality and has not sufficiently contributed to reducing weaknesses in internal control and raising management responsibility to the optimum level. In order to implement modern management concepts, public companies have to have large access to internal control mechanisms or "tools" to assist in management.Integrated management systems with their modern process approach in business organization and comprehensive and fast processing of information on business changes can significantly contribute to the quality of business control. Research on this issue is based on the fact that the introduction of control standards increases the orderliness and documentation of the system, which significantly contributes to the control of business processes. The aim of this paper is to show that the mutual interdependence of integrated management systems through the overall organization structure with the system of financial management and control, as their final outcome, ensure financial integrity and compliance with policies and procedures and promote effective management processes.

Academic Journal of Interdisciplinary Studies, 2014

The concept of Public Internal Financial Control (PIFC) has been developed by the European Commission in order to provide a structured and operational model to assist national governments in reengineering their internal control environment and in particular to upgrade their public sector control systems in line with international standards and EU best practice. The democratic changes affecting all areas of life in the last years, have led to reforms in the management of public finances of the public sector in the Republic of Albania. On the road of the accession to the European Union, Albania is in the process of important conceptual, legislative and structural reform of the Public Internal Financial Control framework with the aim of strengthening the managerial accountability of the managers of public sector organizations and further develop independent internal audit. The paper aims to give some key issues regarding PIFC development in Albania such as: the level of transparency regarding the status of the financial management and control and internal audit in the public sector; the awareness of the Heads of public organizations about the importance of sound financial management and control and to enhance their managerial accountability; information about the self assessment of the heads of public sector organizations on the adequacy and the effectiveness of internal control and about the progress made. It also outlines the weaknesses, solutions and development opportunities based on the assessment of the status of the financial management and control systems as well as of the internal audit. Through conclusions it summarizes the main directions in which the Albanian institutions must be focused in the future for further development and improvement of management of public resources. The development of the new model of public internal financial control in Albania demands from all the participants in the process, leading to effective action in accordance with their roles and responsibilities. Only proper implementation of new legislation and efforts by all stakeholders can lead to achieving the goal-to create a modern system, reliable and functioning of public internal financial control. In this regard the CHU/FMC will outline specific measures related to strengthening managerial accountability and updating of legislation and methodology in the field of internal control in accordance with EU legislation and best practices. As one of the "three pillars" of the Public Internal Financial Control System, Internal Audit has developed and continuously improved in order to take its modern role as advisor for the assessment and systems and contributing to the achievement of strategic and operational objectives of the organization, always in accordance with international standards and best practices.

Journal of Process Management. New Technologies, 2017

The financial sector of each country in the world has its own specificities that depend on many factors. In this paper we will talk about the structure of the financial system in our country from the aspect of the banking sector. Banks are specialized institutions that have a special role in the development of the country's economic system, as their basic function is to supply the economy with the necessary amount of loans and money. Banking business is a special economic activity. It is determined by the type and content of banking operations. In general terms, banking transactions are divided into two groups: active and passive. The Bank is established as a joint-stock company, which is regulated by the laws on banks and international regulatory frameworks.

Economic and Regional Studies / Studia Ekonomiczne i Regionalne, 2021

Subject and purpose of work: The subject of the study are the elements of the Ukrainian financial control system. A combination of those elements enables formulating a concept which is directed at financial control of communes. The purpose of the study is identifying main directions of modernization of the Ukrainian financial control system over self-government units. Materials and methods: This study provides an analysis of government data and commercial statistics based on official studies, evaluation reports, program documents, website data, open research papers and promotional materials. The main elements and European experience that, in the author’s opinion, are necessary for the construction of an effective finance control system of communes have been used in the construction of the concept of financial control over communes. Results: The key elements of the system of financial control over local self-government units of Poland are revealed. The improvement of financial contro...

Baltic Journal of Economic Studies

The aim of the article is to study the history and modernity, the doctrine and practice of legal regulation of financial support of the Constitutional Court of Ukraine. The subject of the study is the legal regulation of the financial support of the Constitutional Court of Ukraine. Methodology. Scientific research is based on the use of philosophical, general scientific and special scientific methods and techniques of scientific knowledge. The dialectical method allowed considering the legal regulation of the financial support of the functioning of the Constitutional Court of Ukraine in development and interaction with other social and legal phenomena. The historical method is aimed at reconstructing the genesis of legal regulation of the financial support of the Constitutional Court of Ukraine at various stages of its formation. The formal legal method enabled to characterize the specificities of the legal regulation of financial support of the Constitutional Court of Ukraine by le...

Financial and credit activity: problems of theory and practice

In the context of deepening administrative and financial decentralization in Ukraine, issues of the effective functioning of the system of budgetary control at the local level are of particular importance. It is shown that local self-government bodies, having received new powers and additional resources, are not always able to manage them rationally, sometimes allowing misuse or even illegal use of them, are not engaged in finding reserves for increasing the local budgets. The institutional (organizational and legal) problems of functioning of the budgetary control system at the local level are found out. Among the main ones there are: excessive number of institutions with control powers; the lack of a unified legal framework for the functioning of budgetary control bodies at the level of local self-government; disorderly rights and responsibilities of entities authorized to control the compliance with budget legislation at the level of local self-government; weak public control ove...