DIRECTIONS FOR IMPROVEMENT OF STATE FINANCIAL CONTROL IN UKRAINE

Abstract

The purpose of the paper is to offer the ways of development of the system of state financial control in Ukraine. The object of this research is the process of state financial control. Methodology. The research methods are systematic approach, groupings and tabular method, structural-functional method. In order to determine the types and elements of financial control it was used systematic approach. To characterize the distribution of financial control for the Lima Declaration; types end elements of state financial control; types of Supreme bodies of state financial control - groupings and tabular method. For disclosure the mechanism of the public financial control system the structural-functional method is used. Results of the survey shows, first of all, that recent steps of the government will improve the mechanism of control for the use of public fund. On the other hand, international experience includes the important features of the state financial control, which could be implemented in Ukraine. Furthermore, in Ukraine certain steps in standardization are taken to implement the international standards of control: first of all, Strategy modernization of the accounting system in the public sector in 2007-2015 was approved. Moreover, in 2013 in Ukraine the working meeting with the expert on the Twinning Fiche Projects took place, where the further direction of collaboration aimed at completion of development of the project documentation was presented. Nevertheless a lot of questions of the state financial control system standardization remain open. Unsystematized standards have negatively affects on their usage, results in an ambiguous interpretation of separate situations which arise during control activity. Practical implications. The first thing that needs to be said is that types of state financial control according to the allocation of authorities between the different bodies were considered. Another important thing is that directions for improvement of state financial control in Ukraine were suggested. In addition to previous practical implications, the important role of standardization in improving of state financial control in Ukraine was highlighted, because it has a lot of positive effects on a state financial control: it helps to achieve common aims of transparency and reporting; to plan and conduct audits, and their usage provides for the professionalism and high quality of control results. Value/originality. Longitudinal analyze of foreign experience helped to provide directions for improvement of state financial control in Ukraine. The main areas which should be focused on are: providing by Accounting Chamber of Ukraine to represent the State in legal proceedings; introducing a mechanism to hold officials' responsible for violations of financial discipline. Besides it, standardization is the way in improving of state financial control, because nowadays a correct interpretation of indicators such as state debt and state deficit are important in terms of assistance from international organizations.