LEGAL ASPECTS OF DETERMINATION OF BUDGET CONTROL OF UKRAINE ACCORDING TO EUROPEAN STANDARDS

Abstract

The article examines the relevance of determining budget control over the legislation of Ukraine in accordance with international standards. Unfortunately, the misuse of public financial resources is still widespread, which indicates the lack of efficiency of the existing system of budget control in Ukraine. The Budget Code of Ukraine does not provide for liability for the inaccuracy of indicators set in the draft local budgets, for improper control at the first stage of the budget process. Orderly and efficient use of public funds is one of the main prerequisites for the proper disposal of public finances and the effectiveness of decisions made by ministries and other state bodies of Ukraine. An important role in achieving this goal is played by the definition of «budget control». World experience shows that the effectiveness of the public financial management system in Ukraine is determined by the balanced functioning of all its components, compliance with current legislation, as well as achieving the goals of public institutions in the most economical and effective way. Budgetary control plays an important role in achieving this goal. The prospect of improving the complexity of budget control in Ukraine depends on its quality at all stages and the timeliness of adequate response of financial authorities, chief administrators and other authorities to the results of control, the identified facts of misuse and inefficiency of budget funds, by taking measures to recover illegal expenditures volumes of funding, bringing them in line with regulations governing the budget process of Ukraine. Today, there is insufficient attention to control actions that provide a preventive control function. Duplication in the work of controlling bodies of different levels, excessive overload of some objects with audits and inspections. Therefore, it is necessary to ensure a single methodological support of the budget, which reflects the state of financial discipline, and methods of their calculation. It is concluded that the definition of budget control in Ukraine is relevant.