The financial control bodies in the field of representative power at the state and local level carry out activities in the process of consideration of:
- some issues on the implementation of budgets of different levels;
- reports on the implementation of revenue items;
- budget formation projects at various levels.
Financial control bodies within the framework of representative power carry out work through committees and commissions formed at each level.
Of particular importance is the Committee on Taxes, Budget, and Banks, which was formed by the State Duma. A separate role belongs to the Committee on Customs and Currency Supervision, Tax Policy, and Banking Activities within the powers of the Council of Federations. The Federal Assembly formed the Accounts Chamber.
The bodies that exercise financial control within the framework of representative power are endowed with special functions. So, the Accounts Chamber, for example, organizes and conducts operational supervision of the implementation of budget items in the reporting year. As part of this activity, comprehensive audits, thematic inspections of specific sections and articles of budgets of different levels, examination of relevant projects, laws and other regulations are carried out. The Accounts Chamber also analyzes and examines deviations or violations in the revenue-earning sphere, prepares and submits opinions to the State Duma and the Council of Federations, and answers to requests from representative offices of the state power of the Russian Federation.
The powers vested in the Accounts Chamber extend to all subordinate financial control bodies. As methods of supervision, inspections and audits are applied. In accordance with the results of the measures taken, the Accounts Chamber sends submissions for appropriate measures to eliminate violations, redress the damage caused to the state, as well as holding officials guilty of violations accountable.
The bodies of financial control within the framework of representative power in the implementation of their activities are guided by constitutions and charters. Each subject of the federation has its own accounting chamber, which provides oversight of the implementation of regional budgets.
By representative bodies of local self-government, financial control is carried out in accordance with the Federal Law that enshrines the general principles for the formation of local self-government in the Russian Federation, and the charters of municipalities.
The supervision of the President is carried out through the Main Directorate, formed on the basis of the relevant decree.
It should be noted that the concept of financial control is also associated with the executive branch.
Under the Government, various commissions may be formed whose powers include supervision. For executive authorities of general competence, control powers are enshrined in the charters and constitutions of the subjects.
The supervision carried out by representative offices of the executive branch of special competence is divided into two types and is carried out:
- in relation to entities that are functionally subordinate, that is, in the direction of financial activity of municipalities and the state as a whole;
- in relation to the departmental system.
Among the executive authorities that exercise supervision in accordance with special competence, it is worth highlighting: the treasury, the Ministry of Finance, the Ministry of fees and taxes, as well as its subordinate tax, customs and other representative offices. The Ministry of Finance of the Russian Federation exercises its powers through its structural divisions.