Determining the stages of external and internal financial control

Abstract

Subject. This article deals with the issues related to the determination of the stages of external and internal financial control over the activities of economic entities, including budgetary institutions. Objectives. The article aims to substantiate the composition, content and sequence of stages of external and internal financial control, the implementation of which ensures an improvement of the efficiency of control over the functioning of economic entities, the quality of organization and the implementation of control activities. Methods. For the study, we used the methods of detailing, generalization, observation, comparison, and grouping. Results. The article summarizes the approaches known in regulatory legal acts and specialized literature to the allocation of stages of organization and conduct of financial control, substantiates the expediency of distinguishing the stages of control activities and the stages of implementation of control measures, and offers the author-developed version of the allocation of stages of internal financial control based on a risk-oriented approach. Conclusions. When developing organizational and methodological support for certain types of financial control, it is necessary to distinguish between the stages of control activities and the stages of control measures. When distinguishing the stages of external and internal financial control, it is necessary to take into account the specifics of the implementation of each of them. The results obtained can contribute to the development of organizational and methodological provisions of financial control.