Legal regulation of financial control in the Russian Federation at the present stage

About the author:

Olga G. Geymur, Cand. Sci. (Jur.), Associate Professor Department of Administrative and Financial Law, Institute of State and Law, Tyumen State University; ogeymur1@yandex.ru

Abstract:

The article focuses on the legal basis of the implementation of control and supervising activity over the state budget execution and the state finances condition, facilitating the financial policy successful realization and financial resources effective use. The fact that the resources, owned and controlled by the state are huge, their distribution, rational and effective use is impossible without a proper legal regulation of control in the financial sphere in Russia. Apart from this there is a need in an organized system of state authorities at all levels of public authority with a clearly defined competence, necessary arsenal of organizational, financial and legal means, which coordinate their efforts to achieve clearly defined objectives within a unified financial and economic policy of the state, designed to react adequately to the realities of socio-economic life, determined by internal and external factors. It is obvious that formation of a holistic and highly effective mechanism of legal regulation of state financial control in the Russian Federation remains one of the most urgent contemporary issues of public finances effective management.

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