DEVELOPMENT OF INFORMATION SUPPORT FOR FISCAL RISK MANAGEMENT WITHIN CRISES

Author:

Oliinyk YanaORCID,Kucheriava MariaORCID,Korytnyk LiliiaORCID,Dmytrenko TetianaORCID,Kuzminska Olga,Lagunov KonstantinORCID

Abstract

Crisis phenomena, such as economic downturns, health emergencies and geopolitical conflicts, had a significant impact on the transparency of information support for public financial management processes and the development of digitalization of the economy.The objective of the study is to assess the current state of information support and transparency of the management of fiscal risks caused by state-owned enterprises' activities under uncertainty.Within the study, the existing international approaches to identifying and assessing fiscal risks are analyzed; the areas for improving information support for managing fiscal risks caused by the activities of state-owned enterprises in emergency situations are identified; the impact of digital finance development on mitigating fiscal risks caused by emergencies is assessed. Proposals to increase the transparency of public finances and create additional revenues to the state budget by the development of innovative technologies are substantiated.Implementation of fiscal and monetary policy measures to mitigate the impact of COVID-19 and ensure sustainable post-pandemic recovery requires relevant financial information reflecting the country's financial position. A reliable source of such information is public financial and budgetary statements prepared by IPSAS and on an accrual basis. Given the negative impact of uncertainty caused by the coronavirus pandemic and war on the activities of state-owned enterprises, an important tool for improving the efficiency of fiscal risk management is the unification of approaches to establishing indicators for assessing relevant risks and providing information for their calculation. In response to lockdowns and social distancing measures during crises, citizens have increasingly relied on digital channels to access government services, pay taxes, and receive financial support. This has necessitated improved digital infrastructure and service delivery mechanisms.

Publisher

FinTechAlliance

Reference52 articles.

1. AON (2020). COVID-19 Risk Management: 5 key questions your organization needs to answer. https://www.aon.com/getmedia/b625fe6f-f392-4671-bdf8-ddf92473c864/Managing-And-Mitigating-Risk-COVID-19.aspx

2. Batini, N., Lamperti, F., Roventini, A., & Loungani, P. (2020). Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19. IMF Working Papers, 181, 11-22. https://doi.org/10.5089/9781513551920.001

3. Cangiano, M., Curristine, T. R., & Lazare, M. (2013). Public Financial Management and Its Emerging Architecture. IMF, 2013.

4. Ciphertrace (2021). Cryptocurrency Crime and Anti-Money Laundering Report. https://ciphertrace.com/wp-content/uploads/2021/05/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-May-2021-051221b.pdf

5. COSO (2017). Enterprise Risk Management. Integrating with Strategy and Performance. https://www.coso.org/Shared%20Documents/2017-COSO-ERM-Integrating-with-Strategy-and-Performance-Executive-Summary.pdf

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3