BUSINESS INFORM №1-2015

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Section: Finance, Money Circulation and Credit
UDC 657.6:006.32
Lyubenko A. M.
Current Issues of Standardization of Financial Control (p. 331 - 336)
The article is aimed at extension of the theoretical, methodological, and organizational theses on development of state financial control, based on the standardized approach. Accordingly, the objective of the study is to substantiate the need for a system of standardization of state financial control, determine the contents of the methodological unification for ensuring the activity of the control subjects, applying a systematic approach. The relevance of development and implementation of the national provisions (standards) of financial control over the public sector entities is substantiated. The author believes that the emphasis of the supreme bodies of state financial control should be given to monitoring the activities of the internal organs of state financial control, evaluation of indicators underlying the making of authoritative decisions. Considering that international standards of financial control reflect the best world experience and tendencies of its development, it would be appropriate to use the theses of these standards when developing national standards for assessing activities of the bodies for internal control (for example, in terms of the performance audit). Also possible is the direct application of international standards of financial control in the work of the monitoring bodies of external control in terms of: verification of efficiency of activity in accordance with the appropriate principles, managerial practices and policies, as well as the efficient use of labour, financial and other resources; the annual audit of the state budget for the last year to generate proposals for optimization of accounting operations, conducted by the Ministry of finance (or relevant financial bodies) based on internal orders; use as sources of information the databases of third parties, including the bodies of the state treasury service.
Keywords: state financial control, standardization and unification of the control, INTOSAI standards
Bibl.: 9.

Lyubenko Andriy M. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Audit, Lviv Educational-Scientific Institute of the University of Banking (61 Viacheslava Chornovola Str., Lvіv, 79019, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Lyubenko, Andriy M. (2015) “Current Issues of Standardization of Financial Control.” Business Inform 1:331–336.

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