Fetisov V.D.National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation Fetisov21@mail.ru
Subject The article considers urgent problems related to financial control implementation in Russia. Objectives The aims are to update the nature and causes of financial control in the market-based society, describe the structure of relations between economic agents and the State and real mechanism of control, identify problems and ways to transform the financial control in Russia and enhance its efficiency. Methods The study employs empirical, systematic, analytical, economic and other methods. Results I offer my own interpretation of the concept of and reasons for financial control, reveal its structure, basic principles and specifics of the mechanism of functioning under modern market conditions. The major problems with implementing the financial control include its complexity, closed nature and excessive cost. To radically improve its efficiency, it is required to streamline the control system of the country. The paper presents proposals on transforming the use of financial control as a major tool of stabilization and economic growth. Conclusions The Russian system of financial control is cumbersome and poorly performing; to maintain it, the country spends about one-third of its GDP. The efficiency of financial control depends largely on the level of economic literacy of the population and the quality of personal financial management.
Burtsev V.V. Gosudarstvennyi finansovyi kontrol': metodologiya i organizatsiya: monografiya [State financial control: Methodology and organization: a monograph]. Moscow, Marketing Publ., 2000, 390 p.
Boyarskii E.A., Novichkov A.V. Finansovyi kontrol' v usloviyakh transformatsii ekonomiki Rossii: monografiya [Financial control under Russian economy transformation: a monograph]. Moscow, Russian State Social UniversityPubl., 2009, 181 p.
Vasil'eva M.V. Razvitie gosudarstvennogo finansovogo kontrolya v Rossiiskoi Federatsii: metodologiya, metodika, kontseptsiya: monografiya [Developing the State financial control in the Russian Federation: Methodology, techniques, concept: a monograph]. Volgograd, Volgogradskoe nauchnoe izdatel'stvo Publ., 2009, 498 p.
Sokolov B.N., Rukin V.V. Sistemy vnutrennego kontrolya (organizatsiya, metodika, praktika) [Systems of internal control (organization, methodology, practice)]. Moscow, Ekonomika Publ., 2007, 442 p.
Stiglitz J. Ekonomika gosudarstvennogo sektora [Economics of the Public Sector]. Moscow, MSU, INFRA-M Publ., 1997, 720 p.
Druker P.F. Menedzhment: zadachi, obyazannosti, praktika [Management: Tasks, Responsibilities, Practices]. Moscow, Vil'yams Publ., 2008, 992 p.
Adams R. Osnovy audita [Audit Framework]. Moscow, Audit, YUNITI Publ., 1995, 398 p.
Piketti T. Kapital v ХХI veke [Le Capital au XXIᵉ siècle]. Moscow, Ad Marginem Press Publ., 2015, 592 p.
Stiglitz J. Tsena neravenstva. Chem rassloenie obshchestva grozit nashemu budushchemu? [The Price of Inequality: How Today's Divided Society Endangers Our Future]. Moscow, Eksmo Publ., 2015, 512 p.
Hahn D., Hungenberg H. PiK.Planirovanie i kontrol' [PuK – Wertorientierte Controllingkonzepte: Planung und Kontrolle, Planungs- und Kontrollsysteme, Planungs- und Kontrollrechnung]. Moscow, Finansy i statistika Publ., 1997, 765 p.
Ermasova N.B. Risk-menedzhment organizatsii [Risk management in organizations]. Moscow, Nauchnaya kniga Publ., 2009, 235 p.
Fetisov V.D., Fetisova T.V. [Informal Finances in the Market Economy]. Vestnik Sankt-Peterburgskogo universiteta. Seriya 5. Ekonomika = Vestnik of Saint-Petersburg University. Series 5. Economics, 2005, no. 1, pp. 92–100. (In Russ.)
Fetisov V.D., Fetisova T.V. [Informal organization finances and specificity of their regulation]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2004, no. 4, pp. 106–109. (In Russ.)
Fetisova T.V. Finansy fizicheskikh lits. Kontseptual'nye osnovy [Finance of individuals: Conceptual framework]. Moscow, YUNITI Publ., 2015, 232 p.
Kadochnikov P.A., Knobel' A.Yu., Sinel'nikov-Murylev S.G. [Openness of the Russian economy as a source of economic growth]. Voprosy Ekonomiki, 2016, no. 12, pp. 26–42. (In Russ.)
Kuzina O.E. [Financial literacy and financial capability: Definitions, measurement methods, and analysis in the case of Russia]. Voprosy Ekonomiki, 2015, no. 8, pp. 129–148. (In Russ.)
