FINANCE. TAXES. CREDIT УДК 336.148 JEL: 1Accounting Chamber of Ukraine, Research ID : http://www.researcherid.com/rid/AAV-3875-2020 FINANCIAL CONTROL AND FORMATION OF COMPLIANCE AUDIT TO ENSURE EFFECTIVE MANAGEMENT OF BUDGET FUNDS The system of state financial control of Ukraine is investigated, its conceptual apparatus is analyzed. It is noted that a significant lever of influence on the efficiency of budget management is control as an important component of the public financial management system. The control function in the budget expenditure management system helps to effectively manage finances within the current legislation. However, despite the current legislative and regulatory framework, in the field of public financial control there remain issues that require a separate legislative regulation of the status of each regulatory body with clear functions of audits, expert and other control and analytical measures. The need for such a law is dictated by the desire to avoid duplication of functions of regulatory authorities, increase the efficiency of their interaction, conduct quality control measures, form transparent environment in the budget system. Keywords:budget; budget system; budget process; budget funds; financial control; audit; efficient use of budget funds; socio-economic development.
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