Corporate Financial Control Transformation in the Conditions of Digitalization

In an attempt to bridge the gap between the budgetary allocations and actual expenditures most universities have started income generating units with the aim of boosting their operational expenses. Whereas there is the potential of the use of Income Generating Units (IGUs) to generate additional funds, most universities still experience challenges in full implementation and realization of the revenue goal. This study therefore sought to determine the financial control mechanisms affecting performance of income generating units among selected public universities. The study sought to determine the effect of internal controls, credit policies, financial risk management and internal audit on performance of income generating units in selected universities. Targeted population was all the 290 employees in the IGU departments of selected public universities. The respondents were sampled using simple random sampling so as to enable equal representation of the target population without any biasness. Data collection was done using the questionnaire to ensure sufficient data was collected from the respondents. Descriptive statistics assisted in the determination of respondent’s views and opinions on every variable. Qualitative data was analysed using content analysis into meaningful, precise and comprehensive statements and presented in quotations. Data analysis was done using SPSS version 21 and data presented in form of figures and tables. The study ensured that all ethical considerations were considered by the study. The findings were that most employed Income Generating Units in Public Universities were Collection of rental fees, Evening and executive programs and Trainings of both short and long courses while the least was established to be Sales of memorabilia and books. All the financial control mechanism investigated namely internal audit, internal control measures, risk management strategies and credit policies had large extents of adoption in the selected universities. The results of the regression analysis showed that the financial control mechanisms investigated had a significant positive relationship on performance of the IGUs. Specifically, 47% of the variation of the performance of IGUs was established to be explained by the studied factors. The study concluded that the performance of the IGUs among the selected public universities was largely accounted for by the implemented financial control measures. Therefore effective financial control mechanisms is concluded to lead to better IGU performance whereas shortcomings in the financial control mechanisms is concluded to lead to diminished returns in the IGUs. The study recommended that the management in charge of the IGU department in the public universities to prioritize the formulation, implementation and monitoring of financial control mechanisms in the IGUs. To facilitate effective financial controls, the study recommended that the management especially those in the audit section to conduct regular checks and inspections on the IGUs. Additionally, frequent reforms were recommended to address the shortcomings experienced in integrating financial control measures in IGUs.

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The System of Internal Financial Control of Budget Institutions

OrelSIET Bulletin ◽

10.36683/2076-5347-2019-2-48-154-165 ◽

2019 ◽

pp. 154-165

Author(s):

O.A. Shaporova ◽

E.A. Kirpichenko ◽

Keyword(s):

Financial Control ◽

Budget Institutions

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ON THE ISSUE OF AUTONOMOUS INSTITUTIONS CONTROL TYPES

EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA ◽

10.36871/ek.up.p.r.2020.03.03.017 ◽

2020 ◽

Vol 3 (3) ◽

pp. 87-94

Author(s):

T. В. TURISHCHEVA ◽

Keyword(s):

Comparative Analysis ◽

Financial Control ◽

Separate Form

The article explores the concept of “constitutive control”, a comparative analysis of the types of control over the activities of autonomous institutions. As the author's approach, it is proposed not to single out constituent control as a separate form of exercising the control powers of executive authorities that are the founders of autonomous institutions, but to implement its directions in the existing system of internal financial control.

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CURRENT STATE OF REGULATION OF INTERNAL FINANCIAL CONTROL AND INTERNAL FINANCIAL AUDIT IN THE BUDGET SECTOR

EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA ◽

10.36871/ek.up.pr2020.09.01.015 ◽

2020 ◽

Vol 1 (9) ◽

pp. 119-124

Author(s):

D. R. GINIYATULLINA ◽

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Keyword(s):

Internal Control ◽

Internal Audit ◽

Regulatory Framework ◽

International Standards ◽

Financial Control ◽

Budget Process ◽

Federal Law ◽

Government Sector ◽

General Government ◽

Financial Audit

Since 2013, there has been an active transformation of the regulatory framework related to the implementation of international standards of internal audit in Russian practice, which regulates the organization and implementation of internal financial control and internal financial audit in the general government sector. However, the regulatory framework is constantly undergoing changes that are associated with the need to take into account the specifics of the functioning of these organizations. Particular attention is paid to the development of the methodological foundations of internal financial control and audit on the basis of amendments made by the Federal Law of July 26.07.2019, 199-FZ to the Budget Code of the Russian Federation. In particular, internal financial control was removed from the budgetary powers of participants in the budget process. When these changes were implemented, a lot of questions arose, such as the exclusion of internal financial control as a separate budgetary authority means that this type of control can be omitted, journals and internal control cards are not kept.

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PENGARUH PERSONAL BACKGROUND, POLITICAL BACKGROUND DAN PENGEATAHUAN DEWAN TENTANG ANGGARAN TERHADAP PERAN DPRD DALAM PENGAWASAN KEUANGAN DAERAH

Jurnal Kajian Akuntansi dan Auditing ◽

10.37301/jkaa.v0i0.6487 ◽

2008 ◽

Author(s):

Yesi Mutia Basri ◽

Rosliana Rosliana

Keyword(s):

Multivariate Analysis ◽

Significant Influence ◽

Political Activity ◽

Primary Data ◽

Financial Control ◽

Independent Variables ◽

Dependent Variables ◽

Political Background ◽

Activity Dependent

This research aim to examine the influence of personal background, political background, and council budget knowledge towards the role of DPRD on region financial control. This research is motivated by the fact that individual background will effect to individual behavior on political activity. Dependent variables in this research are personal background, political background, and council budges knowledge towards the role of DPRD on region financial control Independent variables are the role of DPRD on region financial control in planning, implementing, and responsibility steps. The data in this research consist of primary data that taken from questionnaires distributed directly to respondents. The collected are from 34 Respondents that members of DPRD at Pekanbaru. Hypothesis of this research are examine by using Multivariate Analysis of Variances (MANOVA). The result of this research HI personal background political background and budget knowledge have significant influence toward the role of DPRD on region financial control in planning steps.H2 personal background, politico I background and budget knowledge have no significant influence toward the role of DPRD on region financial control in Implementing steps. H3 personal background political background and budget knowledge have no significant influence toward the role of DPRD on region financial control in Controlling steps.

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