FINANCIAL CONTROL AS A TOOL IN OVERCOMING CORRUPTION

Abstract

Corruption offenses nowadays remain a serious threat to the national security of a state. Persons empowered to perform state functions are the basic sources of corruption risks. The main document that outlines the basic principles of preventing and combating corruption in our country is the Law of Ukraine "On Principles of Preventing and Combating Corruption" and "On Amendments to Certain Legislative Acts of Ukraine on Liability for Corruption Offenses." Corruption in public finances is a threat that gives a momentum for the development of forgery of accounting and tax reporting documents, misappropriation of assets allocated for financial resources funds, concealment of financial transactions and falsification of business entities’ documents. State financial control should ensure the effective use of budgetary resources, extra-budgetary financial resources and state property. In order to combat corruption, it is necessary to introduce transparency at the stages of budget allocation and openness in the control system in this area. It is this transparency that will help not only to overcome corruption, but also to strengthen public confidence in the state and the fulfillment of its functional responsibilities. And also to ensure compliance with the supremacy of law in this area, i.e. to ensure the equality of all before the law and responsibility for violations. Financial control can be enhanced through effective audit. The essence of the audit is a real assessment of the feasibility of government programs on the criteria of economy, productivity and efficiency. It is an audit that is a separate and real source of data, as it does not belong to any political forces or institutions. Based on the above mentioned, it is advisable to adapt the existing audit system in Ukraine in accordance with the best foreign experience.