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Evaluating the Status and Problems of Functioning of the Internal Control and Audit in the Bodies of Public Sector
Koshchynets M. I.

Koshchynets, Marianna I. (2019) “Evaluating the Status and Problems of Functioning of the Internal Control and Audit in the Bodies of Public Sector.” Business Inform 4:268–273.
https://doi.org/10.32983/2222-4459-2019-4-268-273

Section: Accounting and Auditing

UDC 657.631

Abstract:
The article is aimed at studying and analyzing the current status of the internal financial control in the bodies of public sector. A number of measures are outlined, which are already implemented for the formation of an effective system of the State internal financial control in accordance with the internationally recognized standards. An attempt of a complex research of components of the internal control system is also made, namely, the definition of managerial accountability and responsibility of heads of budgetary institutions. The information on the status of functioning of the internal control in ministries, other centralized executive bodies, regional State administrations in the context of elements of the COSO model (the internationally recognized structure of internal control) is analyzed. The carried out research concludes that for the time being there are shortcomings both in the implementation of the integrated system of internal control under the article 26 of the Budget Code of Ukraine, and in the implementation of internal audit activities in the ministries and other centralized executive bodies. A number of problems are allocated, which must be solved in order to build an effective and reliable system of internal control in the bodies of public sector, ways of overcoming these problems are suggested.

Keywords: public sector, the State internal financial control, internal control, internal audit, managerial responsibility.

Tabl.: 2. Bibl.: 12.

Koshchynets Marianna I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economic Security and Financial Investigations, National Academy of Internal Affairs (1 Solomianska Square, Kyiv, 03035, Ukraine)
Email: [email protected]

List of references in article

[Legal Act of Ukraine] (2010). http://zakon.rada.gov.ua/laws/show/2456
Koshchynets, M. I. “Pravovi zasady vnutrishnyoho kontroliu ta audytu v sudovii systemi“ [Legal bases of internal control and audit in the judicial system]. Ekonomika ta pidpryiemnytstvo, no. 31 (2013): 189-198.
“Uhoda pro asotsiatsiiu mizh Ukrainoiu, z odniiei storony, ta IYevropeiskym Soiuzom, Yevropeiskym spivtovarystvom z atomnoi enerhii i yikhnimy derzhavamy-chlenamy, z inshoi storony“ [The Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their Member States, on the other]. https://zakon.rada.gov.ua/laws/show/984_011
[Legal Act of Ukraine] (2011). http://zakon2.rada.gov.ua/laws/show/1001-2011-п
[Legal Act of Ukraine] (2011). http://zakon2.rada.gov.ua/laws/show/z1219-11
[Legal Act of Ukraine] (2018). https://zakon.rada.gov.ua/laws/show/1062-2018-п#n17
Korol, V. M., and Chumakova, I. Yu. “Zaprovadzhennia vnutrishnyoho kontroliu v Ukraini: problemni pytannia ta napriamy yikh vyrishennia“ [Implementation of internal control in Ukraine: problem issues and directions for their solution]. Finansy Ukrainy, no. 7 (2016): 82-104.
“Funktsionuvannia derzhavnoho vnutrishnyoho finansovoho kontroliu u 2018 rotsi“ [Functioning of the state internal financial control in 2018]. https://www.minfin.gov.ua/news/view/funktsionuvannia-derzhavnoho-vnutrishnoho-finansovoho-kontroliu---rotsi?category=organi-v-kompetencii-mfu&subcategory= aspekti-roboti
[Legal Act of Ukraine] (2014). https://zakon.rada.gov.ua/laws/show/z0410-14
[Legal Act of Ukraine] (2012). https://zakon.rada.gov.ua/rada/show/v0995201-12
Khorunzhak, N. M. “Problemy i perspektyvy rozvytku systemy vnutrishnyoho kontroliu ta audytu v biudzhetnii sferi“ [Problems and prospects of development of the system of internal control and audit in the budgetary sphere]. Biznes Inform, no. 5 (2014): 322-326.
De Koning, R. P. Dzh. Gosudarstvennyy vnutrenniy finansovyy kontrol [State internal financial control]. Sloveniya, 2007.

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