Scholarly record

THE EXTERNAL STATE FINANCIAL CONTROL FORMATION IN THE RUSSIAN FEDERATION: TRENDS AND CHALLENGES

A. Izmodenov, L. Shaybakova

Abstract

The purpose of research was to assess trends and problems in the formation and development of state control over the targeted and rational use of budgetary funds in Russia. To achieve this goal, the Russian Federation normative legal acts from 1993 to 2017 were studied, as well as practitioners' and theorists' expert assessments directly involved in the process of state financial external control mechanisms formation. During the study, the authors identified the following trends in the external state financial control development in the Russian Federation: the external state financial control in the Russian Federation the legal basis was founded on the international documents basis, in particular, the Lima Declaration of guidelines on control, Mericskay of the Declaration of independence; the external state financial control bodies formation in the Russian Federation occurred in stages with the use of international experience; the external state financial control legislative regulation in the Russian Federation often lagged behind the needs of the time, followed the established bodies real activities. The problems of external state financial control formation include: no n-recognition of the regional control and accounting bodies as external state audit bodies; the Russian Federation subjects control and accounting bodies powers insufficiency to the financial audit conduction, efficiency audit, strategic audit, state programs audit, investment projects, audit in the field of procurement and other types of audit, which is authorized to carry out Russian Accounting chamber; the lack of financial independence of the Russian Federation subjects control and accounting bodies along with organizational and functional independence; unclear definition of efficiency use of budgetary funds and interbudget transfers concept, the lack of other resources efficiency use concept, including, the property which is in state-owned property of the Russian Federation subject; the essence of control and expertly-analytical actions, their contents, carrying out methods and requirements to results registration is not defined. In order to improve the regional audit institutions activities organization, the authors proposed to accelerate their activities standardization process, using the Russian Federation Accounts chamber experience and the best foreign practices.

Publication details

Back to publication list