THEORETICAL PRINCIPLES OF ENSURING THE TRANSPARENCY OF FINANCIAL RELATIONS AT DIFFERENT LEVELS OF THE ECONOMIC STRUCTURE

Abstract

One of the key ways to increase the effectiveness of public financial policy is to ensure the necessary degree of publicity and transparency of financial relations at all levels of the economic system. Transparency is an effective tool for preventing negative manifestations and abuses in the financial sphere in both public and corporate and personal finances. The aim of the work is to study the essence and content of the concept of transparency of financial relations at different levels of the economic system and its role in ensuring the financial security of the state. The article analyzes the latest research and publications on the transparency of financial relations and found that modern scholars are focusing their efforts on researching various aspects of this process and the features of ensuring its maximum effectiveness. The definitions of the concept of "transparency", which are present in modern scientific thought both in the general definition and with a focus on the level of public, corporate and personal finance, are considered. It was found that the vast majority of publications focus on the transparency of financial relations at the public and corporate levels, virtually ignoring the level of personal finance, where the need for publicity and transparency is also important. The bibliometric analysis of publications on this topic in the Scopus database showed the presence of close relationships with other economic and financial categories and concepts, which once again confirmed the relevance of these studies. The normative and legal framework formed in Ukraine during the period of independence, which regulates the transparency of financial relations at different levels of the economic system, has been comprehensively studied. It was found that the key legislative acts in this process are the Law of Ukraine "On Openness of Public Funds", the Law of Ukraine "On Accounting and Financial Reporting in Ukraine", the Law of Ukraine "On Prevention of Corruption" and a number of other legal documents. At the same time, despite the constant development of opportunities to ensure the transparency of financial relations in Ukraine, the level of shadowing of the economy and corruption remain quite high, which makes further research in this direction promising.