Lex Portus (Jun 2019)
Parliamentary control over public finances as a type of financial control
Abstract
Financial control is a set of measures aimed at creating an effective system to counteract the misuse of state and municipal monetary resources. Ensuring the effectiveness of financial control is possible only when a qualitatively organized system of control subjects. The main controlling functions of financial control are entrusted to the parliament and its relevant bodies. It can be argued that the exercise of control plays an important role in the work of any parliament. Any law-governed state can not exist and implement its internal and external policies without financial resources, and accordingly, without control over the formation, distribution and use of such financial resources. The existence of such control is due to the control function of the state, which manifests itself through the activities of many state bodies, including the Verkhovna Rada of Ukraine (Parliament) and bodies under its control and accountable to it. Parliament, as the body that adopts the law on the State Budget of Ukraine and exercises control over its implementation, controls the receipt of funds to the State Budget of Ukraine and their use. This conclusion follows directly from the content of Articles 85 and 98 of the Constitution, the Budget Code of Ukraine, the Law on the State Budget of Ukraine, since the powers to approve the State Budget and exercise control over its implementation provide for such full control, that is, control over income and expenditure parts of the budget for all indicators. Parliament is the supreme representative body of state power and has the exclusive right to speak on behalf of the Ukrainian people. And this is why the issue of exercising parliamentary control in accordance with generally accepted principles is very important. A more complete and in-depth study requires the questions related to the definition of the concept, the essence, the main features and components of the function of parliamentary control, its directions, forms and methods of realization.
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