entities. Publications in recent
years indicate a close relationship between internal control and the
effectiveness of public administration. Researchers are exploring the ways in
which public sector auditing can be valuable. Research shows that the results
of internal and external audits have different effects in the public sector
than in the private sector. A review of the history of the development of the
functions of internal and external audit of the public sector shows that there
is a theory of agency and management control. Public sector auditing is an area
where additional research is needed (Hay & Cordery, 2018). Other authors
analyze the factors that contribute to increasing the efficiency of internal
audit in the public sector which would help to set proper and more transparent
governance of public financial resources. Their study investigated the
relationship between effectiveness and contributing factors. The results proved
that effectiveness has a positive relationship with internal audit quality, the
competence of the internal audit team, the independence of internal audit, as
well as with the support of internal audit from the management (Ruhani;
Vokshi & Hashani, 2017).
Postula, Irodenko
and Dube
(2020) also
discuss the efficiency of internal audit and its role in streamlining the
operations and adding value to the functioning of public administration in
Poland. The role of internal audit in public administration in Poland, as
presented in thepaper, confirms its essence and its core operational framework.
However, the mplementation of respective stages of the internal audit in the
public sector needs mproving, especially with respect to planning audit tasks
based on risks identified in the organisation being audited.
The main research
areas of 2019-2020 in matters of state financial audit are as follows:
·
research on the role of risk management, internal control and
compliance in public sector governance (Seed; Hamawandy & Omar, 2020);
·
research on the contribution of the internal audit function to the
implementation of external audit and the determination of audit fees (Saputra & Yusuf, 2019);
·
study of the moderating effect of task complexity on external
auditor’s cooperation, top management empowerment and internal auditor’s
independence, which affect internal auditor’s effectiveness (Algudah; Amran & Hassan, 2019);
· research on the
influence of digitalization on audit as a governance mechanism (Manita et al., 2020).
Scientists consider various aspects of financial control,
state financial audit, internal audit and other types of audit. In most cases (Drozd et
al., 2021; Fabiianska et al., 2021;
Khorunzhak et al., 2020; Semenyshena et al.,
2021), a study of the implementation of
financial control and its development in Ukraine is conducted; at the same
time, its further implementation is not considered, namely, the impact of
financial control (state financial audit) on the establishment and
determination of losses.
1. DATA AND METHODOLOGY
The
methodological basis of this research is general scientific methods of
cognition, special methodological techniques. To achieve the purpose of the
research, the following methods are used: concretization, analysis, induction,
deduction – when considering the components of the state financial audit,
analyzing reports of state institutions in their interrelation and system
integrity; retrospective analysis – for analyzing the performance indicators of
state institutions for the audit period (3-4 years); comparison − when
analyzing reports on the results of the state financial audits of various
Ukrainian institutions, comparing identified deviations and violations; the
method of logical generalization – when formulating conclusions.
The information
base of the research is regulatory legal acts on internal control and audit,
state financial control and audit, materials of the State Audit Service of
Ukraine, reports on the results of the state financial audits of Ukrainian
state institutions, scientific articles and reference literature on the
research topic.
2. RESULTS AND DISCUSSIONS
The
modern budget process requires compliance with financial and budgetary
discipline by all participants in the budget process, which is provided by a
system of effective and efficient control. At the same time, the main
participants in the budget process are public sector entities, as the main
managers of state funds.
Control
over the activities of budgetary institutions is, first of all, the most
important factor in strengthening public confidence in public authorities. Of
course, such control will only enjoy the trust of citizens when it is objective
and independent of those executive bodies that manage budget funds. Control is
the main independent source of information to identify the causes of violations
that occur in the management of public finances and public property.
In
recent years, Ukraine has been actively conducting state audits in the State
Audit Service of Ukraine, which is the central executive body whose activities
are directed and coordinated by the Cabinet of Ministers.
In
Ukraine, the state financial control system has three levels, namely: internal
control, internal audit, which are elements of state internal financial
control, and external control (state external financial control). To ensure the
implementation of external control at the second level, there are decentralized
internal audit units that assess and contribute to the effective implementation
of internal control, which is actually the foundation of the state.
Implementation of state policy in the field of state financial control is
provided by the State Audit Service of Ukraine, whose activities are directed
and coordinated by the Cabinet of Ministers of Ukraine through the Ministry of
Finance of Ukraine.
The
State Audit Service of Ukraine among various tasks exercises control over
budgetary institutions, economic entities of the public sector of the economy,
as well as enterprises, institutions and organizations that receive (received
in the period under review) funds from the budgets of all levels, implements
state financial control through the implementation of state financial audit,
procurement inspections, inspection (audit), procurement monitoring.
The
State Audit Service of Ukraine in accordance with the tasks assigned to it
exercises control over targeted, efficient use and preservation of public
financial resources, achievement of budget savings and efficiency in the
activities of budget managers, accounting, as well as preparation of financial
and budgetary reports, condition and reliability of accounting and financial
reporting, the state of internal control and internal audit of budget managers
(The State Audit Service of Ukraine, 2016).
The
main functions of the State Audit Service of Ukraine are shown in Figure 1.
The
implementation of inappropriate expenditures of budget resources in the amount
of UAH 312.7 million, illegal expenditures in the amount of about UAH 2.3
billion was established. The resource shortages in the amount of UAH 144.5
million were revealed. In general, in 2020, financial violations in the amount
of UAH 154.4 billion, in 2019 – UAH 1.7 billion, in 2018 – UAH 2.2 billion, in
2017 – UAH 1.9 billion were detected (The report of the State Audit Service Of
Ukraine,2020; The State Audit Service OF Ukraine, 2021, 2021).
Figure 1: The functional activities of the State Audit Service of
Ukraine
Due
to the need to transform the domestic state financial system, the government of
Ukraine has developed a concept for the development of state internal financial
control and approved an action plan for its implementation for the period up to
2017, and subsequently – until 2020. The main goal of this concept is to adapt
domestic legislation to European legislation, ensure proper control over the
management and use of state resources and the activities of relevant state
authorities, local self-government bodies and other institutions (Concept of
Implementation of State police in the field of reforming the state financial control system, 2020).
An important step
towards the creation of the European SFC system was the development and
implementation of the new Budget Code of Ukraine on 01.01.2011, in particular
the new version of Article 26 «Control and audit in the budget process»,
according to which the mandatory introduction of internal control and audit in
the activities of public sector entities was to take place (Budget Code of Ukraine, 2010).
According to the
results of the analysis of the state of internal control and internal audit
functioning in state bodies, conducted by the Ministry of Finance of Ukraine,
the functioning of the internal environment is generally formalized in state
bodies, control measures are implemented, internal administrative documents are
approved, relevant action plans, working groups (commissions) on the
organization and implementation of internal control are created, etc. As to the
risk management, 64 % of the surveyed state bodies have implemented a
regulation of risk management activities, 41 % made management decisions based
on the results of risk assessment and risk areas of activity, 61% documented
risk management activities. However, a number of shortcomings remain both in
the introduction of a comprehensive internal control system and in the
implementation of risk assessment of the activities of a public sector entity (Ministry of Finance of Ukraine, 2019).
It is necessary to distinguish
between the concepts of internal control and internal audit. Internal control
provides compliance with the law and efficiency of budget funds, achieving
results in accordance with the established purpose, objectives, plans, whereas
internal audit is aimed at improving the management system, internal control,
prevention of illegal, inefficient and ineffective use of budget funds, errors
or other shortcomings in the activities of the institution, providing for
independent conclusions and recommendations (Budget
Code of Ukraine, 2010).
A similar situation has occurred regarding the understanding of
the essence of internal audit, which is perceived as:
-
an audit:
· conducted by
internal auditors in budgetary institutions that has much in common with the
activities carried out by the State Audit Service of Ukraine;
· that consists
only in checking the targeted use of budget funds, compliance with the current
legislation and the reliability of accounting and reporting;
· that identifies
violations caused by minor errors in documents or processes;
· that solves
problems that already exist in the entity's activities, rather than preventing
them;
· internal control
carried out by the relevant employee in relation to the financial and economic
activities of an enterprise, organization, or institution (Internal Audit,
2020).
According
to the results of surveys conducted within the framework of the LOGICA project,
structural divisions for internal audit were created in only 0.5% of local
authorities and 0.4% of budget managers, positions of internal audit
specialists were introduced in only 42 budget managers out of 18,657
respondents. In addition, in 126 budget managers out of the total number of
respondents, the responsibility for performing internal audit functions is
assigned to officials who already perform other functions, which indicates a
violation of the independence of the internal auditor (Internal Audit, 2020).
In
accordance with the Budget Code of Ukraine and the Regulations of the Ministry
of Finance of Ukraine, the Ministry of Finance of Ukraine ensures the formation
and implementation of public policy in the field of public internal financial
control, determines organizational and methodological principles and assesses
the functioning of internal control and internal audit systems.
According
to the Budget Code of Ukraine, budget managers, represented by their heads,
organize internal control and internal audit and ensure their implementation in
their institutions and enterprises, institutions and organizations belonging to
the sphere of management of such managers of budget funds. The Ministry of
Finance of Ukraine conducted an analysis of the functioning of internal control
and internal audit in government agencies (ministries, other central executive
authorities, regional and Kyiv city state administrations, other main managers
of state budget funds) in 2020. The results of such an analysis showed further
progress in reforming the system of public internal financial control in
general and development of internal control and internal audit.
In particular, there are a number of positive developments in the
organization and implementation of internal control, including through the
formalization of elements of internal control, their components and ensuring
practical application in the performance of functions and tasks. Thus, in 2020,
budget managers took measures to improve the internal control system, in
particular:
· separate working
groups/commissions on the organization and improvement of internal control and
risk management are created by separate managers;
· adopted internal
administrative documents on issues of risk management activities;
· new control
measures have been introduced or existing ones have been improved;
· approved action
plans to improve the functioning and implementation of the system internal
control, control of risk response;
· training events
were held, etc.
At the same time, the activity of organizing internal control
did not acquire signs of systematic, integral work. However, typical
disadvantages are:
· providing the
integrity of the internal control system (its elements are fragmentary, operate
separately from each other);
· lack of unified
approaches to business planning;
· consideration of
internal control as a separate activity or measure (management control,
supervision, control over the process of using budget funds, etc.);
· risk management
and monitoring activities are not integrated into the management cycle and do
not focus on key risks that may arise in the process of performing the main
tasks.
The
system of internal control is mainly built around compliance with relevant
regulations. Control measures do not focus on the effectiveness of key
processes, but on the use of budget funds, management of state property and
other resources. In the reporting year, a number of government agencies took
into account the recommendations of the Ministry of Finance and provided
organization of internal audit activities in accordance with the established
requirements, for example:
· measures have
been taken to ensure the independence of internal audit units;
· the capacity of
internal audit units has been increased and the positions of internal auditors
have been filled;
· improved
approaches to planning internal audit activities;
· measures have
been taken to change priorities during internal audits (in particular, the
share of internal audits in assessing effectiveness continues to grow);
· improved
approaches to ensuring and improving the quality of internal audit, etc.
The
results of the assessment of the functioning of the internal audit system of
public sector entities are shown in table. 1.
The
activities of the State Audit office of Ukraine in terms of assessing the
internal control system can be traced at the sectoral level, for example, the
results of the audit of health care facilities. Appropriate internal audit
measures are recorded in the activities of the Ministry of Health of Ukraine.
The Operational Action Plan for Internal Audit of the Ministry of Health of
Ukraine for 2019 has been prepared taking into account the tasks and results of
the Strategic Action Plan for Internal Audit of the Ministry of Health of
Ukraine for 2019-2021. However, the practical results of the state audits conducted
in 2019 indicate the presence of violations in the use of funds allocated for
the maintenance of health care facilities, in accordance with the established
estimates.
Table 1: The results of activity of
internal audit in central executive bodies and regional state administrations *
|
Type of audit
|
The nature of the violations
|
Year
|
|
2017
|
2018
|
2019
|
2020
|
|
Financial audits/compliance audits
|
violations that led to the loss of resources (illegal,
non-targeted costs, disadvantages, shortage of resources), UAH million
|
|
central executive bodies
|
1396,2
|
933,9
|
1,1 billion
|
13
billion
|
|
regional state administrations
|
216,2
|
270,4
|
388,5
|
91,7
|
|
Violations that did not lead to loss of resources
(overstatement of liabilities, overstatement of the need for budget funds,
understatement of assets, surpluses, diversion of funds into receivables,
maintenance of excessive units, etc.), number, thousand
|
|
central executive bodies
|
6,4
|
4,9
|
57,8
|
44,9
|
|
regional state administrations
|
0,5
|
1,0
|
3,8
|
1,7
|
|
non-financial violations, number (violation of the order
of accounting, inaccuracy of financial and budgetary reporting,
non-compliance with legislation, plans, administrative documents, etc.)
|
|
central executive bodies
|
13,4
|
15,5
|
Reflected as part of violations that did not lead to loss
of resources due to changes in the method of presenting information
|
|
regional state administrations
|
1,8
|
2,6
|
|
|
Losses reimbursed, amount, UAH million
|
|
central executive bodies
|
179,7
|
364,6
|
no data available
|
359,3
|
|
regional state administrations
|
8,9
|
22,4
|
no data available
|
21
|
|
level of loss compensation, %
|
|
central executive bodies
|
13
|
39
|
17,8
|
2,8
|
|
regional state administrations
|
4
|
8
|
7
|
22,9
|
*Source: summarized by the authors using database of
Ministry of Finance of Ukraine (2021)
It should be
noted that some violations are similar in nature, as evidenced by the results
of audits of other health care facilities, which are summarized on the basis of
processing of reports on the results of public audits. It should be noted, that
in table 2 included only violations that exceed the threshold of 200 thousand
UAH, although there is a significant number of violations with less monetary
expression.
As you can see,
the lack of properly organized internal control system made it impossible to
prevent violations and shortcomings in the financial and economic activities of
the institution, which affected its completeness of income generation, the
effectiveness of expenses incurred and the formation of financial results.
Based on the results of the table 1 and table 2, typical violations in the
organization and maintenance of accounting and internal control system of are
summarized and the impact of inefficient organization of internal control
system in the form of financial, social and economic effects is illustrated (fig.
2).
Figure 2: Impact of inefficient organization of internal control
system for the activities of public institutions
*Source:
summarized by the authors
A significant role has to be assigned to control
measures, which are a set of introduced management actions carried out by the
management and employees of the institution to influence risks in order to
achieve certain goals and objectives of the institution. Typical
control measures to ensure the reliability of accounting and reporting data
are:
· obtaining permission from responsible officials to perform
operations through approval procedure;
· delineation of responsibilities among employees to reduce the risk
of making mistakes or committing illegal actions;
· control over access to tangible and intangible resources, accounts,
etc.;
· establishing rules and requirements for performing operations and
monitoring the legality of their implementation;
· reconciliation of credentials with actual data;
· assessment of the overall performance of the institution;
· monitoring the implementation of assigned tasks, etc.
3. CONCLUSIONS AND RECOMMENDATIONS
With the increasing scale
of public sector entities of various forms of ownership and the creation of a
competitive environment, comprehensive control over the processes taking place
within the institution is possible only through the creation of an effective
system of internal control and active implementation of internal audit. It is
internal control as an important tool of the enterprise management system with
the help of special procedures and a set of control actions helps to ensure the
effective implementation of tasks.
The latest challenges of
state financial control in Ukraine indicate the urgent need to develop internal
control and internal audit of public sector entities as tools of the management
system, which through special procedures and a set of control actions help to
ensure the effective implementation of the assigned goals and objectives. Now,
there are a number of factors that slow down their full functioning, in
particular, insufficient awareness of their progressive role by the management
of the budget manager, erroneous identification with other types of control,
lack of recording the results of their implementation, management reporting,
etc.
Analysis of the results of state
financial audits in Ukraine revealed typical violations in accounting and
internal control, among which the most common are shortfall in income,
inefficient use of financial resources, overestimation of the salary fund; lack
of provisions on structural divisions, non-compliance of certain provisions of
the order on accounting policy with the current requirements of the
legislation, etc. The presence of similar violations in different state
institutions indicates their uniformity and inhibition of decision-making to
solve problems at the industry level.
The identified amounts of financial violations
significantly affect the financial stability of the industry and the state. It
is proposed to consider such an impact in the form of financial, social and
economic effects, such as diversion of funds from state or local budgets, inefficient
implementation of state financial policy tasks.
The results of the study are important for identifying
and assessing risks in the activities of public institutions and developing
measures to prevent them. Generalized and defined typical violations in
accounting and internal control system of public institutions allow us to take
them into account in the process of developing proposals and recommendations
for:
Table 2: Analytical summary of the results
of the state financial audit in 2019 on the example of health care facilities*
|
Audit entity
|
The period covered by the audit
|
The nature of the violation
|
The amount of financial losses
|
The total amount of financial losses
|
|
Department of Health and Civil
Protection of Zalishchyk District State Administration
|
2019
|
Additional non-targeted spending
|
3,4 UAH million
|
7,613 UAH million
|
|
Payment of fines and penalties
|
513 thousand UAH.
|
|
Loss of assets due to incorrect
accounting
|
3,7 UAH million
|
|
Municipal non-profit enterprise
"Vinnitsa City Clinical Hospital №1"
|
during 01.03.2016 - 31.07.2019
|
Financial violations
|
5,2 UAH million
|
5,2 UAH million.
|
|
Borznianska Central District
Hospital
|
during 01.01.2015 -31.07.2019
|
Loss of financial and material
resources
|
453,1 thousand UAH
|
453,1 thousand UAH
|
|
Municipal institution "Maternity hospital
№7" (Odessa)
|
01.06.2013 - 31.12.2018
|
Violation of financial
discipline
|
321,39 thousand UAH
|
1,0 UAH million
|
|
Municipal institution "Maternity hospital
№1" (Odessa)
|
during 2017-2019
|
Reimbursement of the special
fund at the expense of the general fund
|
471,8 thousand UAH
|
|
Municipal institution "Maternity hospital
№2" (Odessa)
|
2018
|
Over-fulfillment of balances
allocated from the local budget to pay for medicines and medical supplies
|
216,5 thousand UAH
|
|
Volyn Regional State Administration Health Department
(Budget program "Creation of blood banks and its components")
|
during 01.01.2016-30.09.2018.
|
Inefficient use of funds for
wages
|
115,8 thousand UAH
|
1137,9 thousand UAH
|
|
Excessive accrual and payment of
wages
|
802,0 thousand UAH.
|
|
The single social contribution
is overpaid
|
220,1 thousand UAH.
|
|
State enterprise «Ukrvaktsina»
|
01.01.2018
|
Availability of expired drugs in
the warehouse, inefficient procurement management
|
10949,6 thousand UAH
|
10949,6 thousand UAH
|
*Source: summarized by the authors using database of the
State Audit Service of Ukraine (2021).
elimination of violations and shortcomings identified
during the audit and prevention of them in the future in the industry's
activities;
· elimination of the causes and conditions that
have led or may lead to violations and shortcomings in the activities of public
institutions;
· improving the efficiency and effectiveness of
activities of public institutions;
· increasing the responsibility of managers over
the effectiveness of their management decisions and performance of activities.
The areas of further
research are: development of draft documents to improve the system of
accounting and internal control for public sector entities; development of
methods for identifying risks of activities in accounting and internal control
(audit); development of proposals at the industry level to prevent violations
in the accounting and internal control system, which are systemic.
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bodies for 2020-2021. Retrivied from: https://dasu.gov.ua/attachments/41c93f15-7eb7-49ab-b464-1934173c7f58_%D0%97%D0%92%D0%86%D0%A2__2020_%D1%80%D1%96%D0%BA.pdf.
DEVELOPMENT OF INTERNAL CONTROL AND AUDIT IN UKRAINE