ON SOME ASPECTS OF TRANSFORMATION OF FINANCIAL CONTROL IN MODERN CONDITIONS

Abstract

The article investigates certain issues of transformation of financial control under the current conditions. It is emphasized that the main directions of improving financial control in the current economic situation in Ukraine are the development of a single legal framework for the development of the system of efficient use of budget resources and the legislative consolidation of control functions by bodies and existing procedures of budget control, updating of institutional methods of financial control. The institutionalization of the state financial control system in the conditions of paradigmatic changes contributes to the formation of the optimal system of state financial control and provides for effective monitoring and regulation in four main interrelated areas: 1. Comprehensive management of state financial resources; 2. Monitoring of the activity of executive bodies in the financial sphere; 3. Regulation of financial transactions of legal entities and individuals; 4. Development of the internal control and audit system. It is noted that the strengthening of the role of audit committees becomes not only a tool for improving the quality of financial control, but also an element of Ukraine's European integration strategy, which ensures the compliance of the country's institutional infrastructure with the standards of the European Union. It is determined that the optimization of the internal financial control system should provide for: legislative consolidation of internal audit for local self -government bodies, development of standards for local budgets, advanced training of controllers, a comprehensive approach to reduce corruption and improve transparency, as well as expand the powers of state controlling bodies. It is concluded that the priorities of transformation of the financial control system include: development of innovative techniques for improving the efficiency of control, expanding the regulatory framework outside the budget sphere, creating an integrated information system between budget bodies and forming a unified database for comprehensive analysis.