Improvement of public financial control in the context of ensuring financial security of the state

Increasing threats to financial security are one of the major economic problems in Ukraine in terms of accelerated globalisation of the world economy against the background of overcoming the global financial crisis. It is required to improve public financial control (PFC) to provide an effective response to real threats in the financial sector. The article summarises the shortcomings inherent in the public financial control at the current stage of its development. The authors of the article have determined factors affecting the state of public financial control in Ukraine and defined areas for improvement of public financial control in the context of the financial security of the state. The authors have proved that the key areas to enhance PFC in the context of the financial security of the state are the improvement of the existing legal framework, the development of domestic standards by taking into account international standards and the EU standards aimed at complying the domestic standards in the field of PFC with international standards of the financial control and the EU requirements, legal separation of powers of the public control bodies with regard to control measures undertaken in the financial sector, improvement of organisational and methodological implementation of relatively new forms of control including the audit of efficiency, improvement of information and communication in terms of PFC staff development, strengthening the preventive function of PFC, i.e. its shift to the prevention of fiscal violations.