Control is one of the main functions of the wholeat any level. It is carried out in different segments of the society, depending on which the appropriate types are allocated with its components: for example, types of financial control and others.
Revision of finance, being a form of their implementationcontrolling function, is necessary in a society that is based on commodity-money relations. Naturally, in the conditions of a market economy, the role of controlling cash flows is particularly important.
Financial control is very important for ensuring the reliable functioning of the whole system and its security, implementation of the relevant policy implemented by the state.
Цели и, соответственно, задачи финансового control reveals its content. Their main purpose is to get all the required information on the progress of the financial management processes at both levels (micro and macro) in a timely manner, as well as on the detected violations. Thanks to the data obtained, it becomes possible to make the decisions necessary to manage these processes. And they are being realized precisely in the tasks of auditing capital.
At the heart of the organization and conduct of financial audits are certain principles of financial control. They include:
- legality - the existing legal framework that ensures control;
- objectivity - absence of bias and validity of conclusions;
- independence - guaranteed by the current legislation;
- publicity - the general availability of control results provided that the rules and regulations that relate to state and commercial secrets are observed;
- responsibility - good faith attitude and execution by employees of supervisory bodies of their official duties;
- delineation of functions and powers - assumes absence of duplication in activity of various supervising bodies;
- systematic - means a single legal basis and periodicity in the conduct of specific control financial measures.
Types of financial control are determined by various parameters.
Controlling and supervising organizations associate two types:
- external, which is exercised by state, public and audit control organizations or firms;
- internal, that is, the control of higher bodies for the subordinate, internal function, through which the proper functioning of the organization is ensured.
In the field of financial activity, the following types of financial control are distinguished:
- tax - this system controls compliance with the law, the correctness of calculating taxes, as well as other types of mandatory payments, the completeness and timeliness of their payment;
- Budgetary - these are thematic checks andcomplex audits that are conducted to control the receipt of budgetary funds, as well as funds from extrabudgetary state funds and their intended use;
- bank - controls the degree of effectiveness of the use of issued bank loans, its ultimate goal is to fully strengthen and support payment discipline;
- foreign exchange - is aimed at determining compliance with the current legislation of operations conducted and the availability of the licenses and permits required for this;
- insurance and others.
And, finally, there are types of financial control over the time of implementation:
- preliminary - perform it before performing any operations related to cash funds, it helps to prevent violations of financial discipline;
- operational or current - perform when performing cash transactions;
- the subsequent - perform after the execution of monetary transactions, in this case, the degree of financial discipline, possible violations and adequate measures to eliminate them.
