Effectiveness Of Financial Control Research Articles

Impact of Digital Tools and Technologies on The Effectiveness of Financial Control

The article presents dwells on the legal consolidation of the principles of public financial control in the era of digitalization and used as part of the control of digital tools and technologies in the Russian legal field. The study materials include the Constitution of the Russian Federation, Russian and international legal acts (laws and standards), and the websites of Russian public authorities with powers in the field of financial control. To process such materials, the authors used technical and legal analysis as the main method. They conclude that the legal regulation of the principles of public financial control in the Russian Federation is fragmentary. Based on the study of network information resources of Russian public authorities, there is a set of digital tools and technologies used to organize and conduct financial and control activities in a non-contact form. This system includes three main blocks: information systems, personal accounts, and registers. According to the authors, the legal relations that arise in connection with the use of digital tools in financial control are heterogeneous: some are directly related to particular digital technologies (tools); others do not consider a digital product an object of legal relations and assign it an auxiliary value.

Proses Penyusunan Anggaran Berbasis Kinerja dan Pengaruhnya Terhadap Pengendalian Keuangan

The performance-based budgeting process is a budgeting method for the government that links each identified funding in activities with the expected results and results, including the effectiveness in delivering those results. Financial control refers to expenditure activities. And performance monitoring aims to ensure that performance meets organizational goals. The research subjects were the Department of Trade, Industry, Cooperatives and SMEs of Meulaboh, West Aceh. The purpose of this study was to determine how the performance-based budgeting process and its impact on the effectiveness of financial control. The analytical method used is a simple linear regression analysis method because this study uses one independent variable and one dependent variable. The data used is quantitative data in the form of a questionnaire. The results of this study indicate that the performance budgeting variable (x) has a significant positive effect on the financial control effectiveness variable (y). This can be seen from the simple linear regression results obtained from the equation Y = 40,401 + 0,498X which gives the understanding that if the perception of financial control is constant or zero (0), then the amount of the performance-based budget is 40.401. units. In addition, the value that represents the regression coefficient and variable X (performance budgeting) is 0.498, meaning that if financial control is increased by 1 unit, the amount of performance budgeting will also increase or increase by 0.498 units, with the opposite assumption. fixed or constant variable.

АКТУАЛЬНЫЕ ПРОБЛЕМЫ ФИНАНСОВОГО КОНТРОЛЯ

The author devoted his research to the study of financial control mechanisms, identified positive and negative trends in this area. He emphasized that the modern financial control system requires a deep rethink-ing due to its imperfections. The author also emphasized that the statistics of offenses and crimes in the budgetary sphere testifies to the systematic nature of these problems in the budgetary sphere. The author also highlights those internal and external factors that can have both a positive and a negative impact on the financial control system as a whole. The author attributed to the key problems in the field of financial control the lack of a unified approach to the implementation of control measures, as well as the need to tighten pun-ishment for irrational and inappropriate use of budget funds, since the effectiveness of financial control also depends on the level of financial discipline of participants in budgetary relations.

Monitoring and Risk Assessment of the National Project “Ecology”

In the conditions of the modern economic development, its focus on sustainable development and environmental problems are of paramount importance. The directions of achieving environmental sustainability in Russia are supposed to be solved through the implementation of a set of measures outlined in the national project “Ecology”, which sets a number of targets and additional indicators that contribute to solving environmental problems. The article is devoted to the factors influencing the implementation of national projects and programs in the field of ecology in the Russian Federation. An analysis of the implementation of the “Ecology” project and the state program of the Russian Federation “Environmental Protection” as well as the study of Russian and foreign practices (experience of Singapore, Great Britain, Germany and other countries) regarding the monitoring the implementation of strategic documents, have helped to identify the relevant risks and to conduct their assessment, with the aim of increasing the effectiveness of financial control over the implementation of the national project. On the basis of the identified risks, the targets of the “Ecology” project were identified, which, in the opinion of the authors, requires its revision in order to be more effective. The results of the study may be interesting as relevant state bodies responsible for the implementation of the national project “Ecology”, in particular, the Ministry of Natural Resources and Ecology of the Russian Federation, as well as bodies which are monitoring its implementation, for example, the Accounts Chamber of the Russian Federation.

Условия и инструменты обеспечения эффективного финконтроля достижения национальных целей и реализации нацпроектов

The effective implementation of national projects and the achievement of national goals requires both the coherence and synchronization of actions of government bodies and organizations at all levels, as well as ensuring close monitoring of the efficient use of budget funds. In this case, the main emphasis should be placed on risk assessment and preliminary control, i.e. prophylaxis and prevention of possible violations. The article discusses the issues of increasing the effectiveness of financial control while achieving the national development goals of the Russian Federation through the use of modern methods and tools of control, as well as the features of the organization and implementation of this process at the regional level. The author analyzes the conditions created in the city of Moscow for the effective implementation of control and supervision activities. The high importance of digitalization and automation of control processes is noted to ensure constant and comprehensive monitoring of budget expenditures. It is concluded that the main task of control and supervision bodies is to assist the executive in implementing state programs and national goals, and their achievement should become a criterion for evaluating the effectiveness of the control and oversight bodies.

Международный опыт осуществления государственного финансового контроля

Financial control is a major part of the financial management system. Its increasing importance in the contemporary world is reflected in the Lima Declaration of Guidelines on Auditing Precepts, according to which financial control is an integral component of public finance management. The relevance of the topic is also associated with the strengthening of the role of financial control in developed countries and the search for ways to increase the effectiveness of its implementation. The article aims to identify the main development trends of state financial control in advanced countries and to analyze the standardization process. Despite the fact that the system of state financial control is based on different principles in different countries, depending on the prevailing historical, economic and regulatory traditions of a particular country, further directions for the development of this sphere are determined by general trends toward decentralization of control and the standardization of control activities. In addition, the current level of development of state financial control in the Russian Federation and the possibility of adapting international experience in our country in order to increase the effectiveness of financial control are described. In this article, the analysis of foreign experience has been carried out at three levels: general control over public finance; government and parliamentary control; and internal control and internal audit as special areas of financial control. In regards to standardization, the standards of external state control have been found to be formed and approved by the national control and accounting bodies of the country, taking into account the requirements of INTOSAI standards. At the same time, national standards include legally established features of the state financial control organization in a given country as well as the national practice of conducting state audit. Requirements for the organization and implementation of internal financial control can be set by supreme audit bodies or ministries of finance, whereas requirements to organize and carry out internal financial audit are often provided by law.

THE INFLUENCE OF BUDGETING BASED ON PERFORMANCE ON THE EFFECTIVENESS OF FINANCIAL CONTROL AND THE EFFECTIVENESS OF PERFORMANCE CONTROL AT TOMOHON CITY GOVERNMENT

Budgeting based on performance is the answer to use as a tool for measuring and accounting for government performance. It is a method of budgeting for management to link any funding outlined in activities with expected outputs and outcomes, including efficiency in achieving results from those outputs. The purpose of this study is to know the budgeting based on performance on the effectiveness of financial control and effectiveness of performance control. The object of this research was conducted at local government work unit (SKPD) of Tomohon local government using simple regression analysis to know influence of budgeting based on performance to effectiveness of financial control and effectiveness of performance control from 14 service in Tomohon city. The results of this study support a causal relationship between budgeting based on performance with the effectiveness of financial control and effectiveness of performance control. It can be used as a tool to achieve effectiveness in financial control.

THE INFLUENCE OF BUDGETING BASED ON PERFORMANCE ON THE EFFECTIVENESS OF FINANCIAL CONTROL AND THE EFFECTIVENESS OF PERFORMANCE CONTROL AT TOMOHON CITY GOVERNMENT

Budgeting based on performance is the answer to use as a tool for measuring and accounting for government performance. It is a method of budgeting for management to link any funding outlined in activities with expected outputs and outcomes, including efficiency in achieving results from those outputs. The purpose of this study is to know the budgeting based on performance on the effectiveness of financial control and effectiveness of performance control. The object of this research was conducted at local government work unit (SKPD) of Tomohon local government using simple regression analysis to know influence of budgeting based on performance to effectiveness of financial control and effectiveness of performance control from 14 service in Tomohon city. The results of this study support a causal relationship between budgeting based on performance with the effectiveness of financial control and effectiveness of performance control. It can be used as a tool to achieve effectiveness in financial control..Keywords : budgeting based on performance, effectiveness of financial control, effectiveness of performance control

Financial openness and entrepreneurship

Using a panel data set of 62 countries from 1995 through 2013, the effects of financial openness on changes in entrepreneurship rates in the economy are estimated for emerging and developed markets. Controlling for the effects of political risk in conjunction with capital controls, capital controls have a negative effect on entrepreneurialism in emerging market countries, but can have a positive effect on entrepreneurialism in developed markets. The imposition of financial controls have a greater effect in magnitude in developed markets than in emerging markets, indicating that development of the internal financial system plays a role in extenuating the effects of capital controls. The effect of the imposition of financial controls is not uniform across the various financial instruments. In particular, the imposition of capital controls on derivatives and real estate in developed markets is associated with a negative effect on entrepreneurialism, unlike for other financial instruments in developed markets. However, in emerging markets, the effects on entrepreneurialism of financial controls seems to be more uniform when controlling for the interaction of political risk and financial controls. In controlling for the effects of political risk on financial liberalization, the effects of financial controls between emerging markets and developed markets are not the same. In general, the imposition of financial controls in emerging markets is associated with a decline in entrepreneurialism, while the imposition of such controls in developed markets is associated with an increase in entrepreneurial activity.

INTERNAL STATE (MUNICIPAL) FINANCIAL CONTROL IN THE CONTEXT OF THE FORMATION OF THE INSTITUTIONAL STRUCTURE

Аt present, the issues of the formation of the institutional structure of financial security are among the strategic priorities of state policy, which indicates the consensus achieved in the society on the significant role of Russia in the global financial system. One of the priority activities of the Russian state is to optimize the structure of public authorities in order to improve the efficiency and effectiveness of their activities. Particular attention in this process is given to the reform of the system of state financial control. In the modern economy there is a large range of problems and inaccuracies in the legislative regulation of financial control by public authorities. This situation leads to a significant reduction in the quality of the effectiveness of financial control by public authorities. In this regard, there is a need to study and clarify the role, function and place of bodies exercising state (municipal) control in the institutional structure, determine the importance of the participation of such bodies in the process of rational use of budgetary funds, in the formation and justification of methods and methodology for monitoring the effectiveness of planning and spending of budgetary funds, as well as measures to prevent violations of legislation in the budgetary sphere.

Effects Of Financial Controls On Financial Management In Kenya’s Public Sector: A Case Of National Government Departments In Mirangine Sub-County, Nyandarua County

This study sought to establish the effect of control activity on financial management in Mirangine Sub County of Nyandarua County. The study adopted a descriptive design and targeted 30 accounting, finance and administrative staff in the government departments in Mirangine Sub County. The study employed a census survey where all members of the target population constituted the study sample. A structured questionnaire was used to collect data. Both descriptive and inferential statistics were used in data analysis. The study findings were presented in the form of tables and figures that captured both descriptive and inferential results. The study concludes that the public sector in Mirangine Sub County has an effective internal control system characterized by clear separation of roles, supervision and commitment of management. However, there are weaknesses in the implementation of financial controls since internal audit function is not well extended to all the departments. On financial management, the study concludes that the prudential use of financial resources in Mirangine Sub County is not appropriate although there is improved asset use and classification of revenues and expenditures. The final conclusion of this study is that there is a significant positive relationship between control activities and financial management. The study recommends competence staff profiling, establishment of information system within the departments and improving the generation of more finances for the operations of the government departments.

Irrationality and Contradiction in Organizational Change: Transformation in the Corporate Form of a U.S. Steel Corporation, 1930–1987

This article analyzes historical and interview data on one of the largest steel corporations in the U.S. to determine (1) the effects of financial controls on long-term incremental organizational changes, (2) the effects of the environment on the organization, (3) the degree to which organizations structure their environment, and (4) the conditions that transform the corporate form. Findings demonstrate that transformations emerge from crisis due to contradictions within the corporate form and between the corporate form and its environment. The sources of these contradictions include the long-term irrationality of formally rational financial controls, oligopolistic structures, and the state's tax policies. These findings question efficiency arguments in general, but more specifically do not support Alfred Chandler's conception of the “logic of managerial enterprise,” which suggests that oligopolistic corporations are efficient because their size provides capital to realize economies of scale, and market share competition sharpens management's skills.

The effects of financial controls on data manipulation and management Myopia

This paper reports the findings of a field and survey study aimed at discovering the incidence and causes of two potentially important, often dysfunctional, control system side effects: manipulation of short-term performance measures and encouragement of a myopic, short-term orientation. Data collected from interviews and questionnaires show that these side effects were evident and that their incidence was positively related to the felt pressure to meet financial targets. Tests of possible moderating effects of environmental uncertainty, supervisor consideration, and profit center strategy were consistent with expectations only for the environmental uncertainty variable, however; managers operating in relatively uncertain environments were significantly more likely to react to budget pressure by pulling profits from the subsequent year into the current year than were those operating in relatively certain environments.