Forms and methods of financial control reflect the organization of verification work by higher bodies of the financial and credit sphere in relation to their structural divisions.
So, forms of financial control show ways of concretizing certain actions of controlling structures. The classification of the main forms of this term depends on the time of direct control, namely: preliminary control, current and subsequent control.
Preliminary control is carried out before a specific financial event. Often carried out by a higher financial and credit institution when considering certain financial plans, calculations and estimates. This may also include an analysis of the appropriateness of granting loans or transferring funds from budgets of all levels.
Current control (sometimes found in the literature under the name "operational") should be carried out during the process of conducting operations on receipt and expenditure of funds. Based on the data of accounting, inventory or visual observation, this type of control prevents the commission of offenses in the financial sector, and also regulates the occurrence of financial risks.
Subsequent control is carried out as an additional check of the validity and legitimacy of cash transactions after their actual execution. This form of control is carried out using the analysis of balances and other statements, and also uses the method of audits and inspections directly on the spot in organizations and institutions.
Methods of financial control involve methods and techniques for its implementation, among which the main ones are:
- observations. These are methods of financial control, with the help of which a general familiarization with the current activities of the enterprise is carried out for further control of its financial condition;
- checks. Such methods of financial control relate directly to financial activities and, basically, should be carried out on the spot, using balance sheets, reports and other expense documents to identify certain irregularities in financial discipline, indicating ways to eliminate the consequences of their occurrence;
- surveys. These are methods for studying individual aspects of financial activity. They are based on a larger range of indicators, which is why they differ from verification;
- analysis. It should be carried out on the basis of reporting for any period and aimed at identifying "weaknesses" in financial discipline;
- revision. We can say that this is the main method of financial control, which is carried out to establish at a particular object the legality and competence of financial discipline. Audit may be mandatory and regular. The basis of this method is the verification of primary documentation, statistical and accounting reports, accounting registers and the actual availability of money at the checkout.
Revision as a method of financial control involves checking only the financial activities of the entity, but not the methods of its management or organization.
Methods of state financial control are no different from those listed above. However, the main difference between them is the public service body, which carries out an audit, inspection, examination or analysis.
So, the state bodies in the financial sphere from the position of their structure include authorized bodies of control of the financial sector, federal bodies of financial control, as well as units of federal bodies related to the executive branch with specific control powers. These organizations are endowed with certain functions in accordance with applicable law.