INSTITUTIONAL DESIGN OF ANALYTICAL TOOLS OF THE FINANCIAL CONTROL INSTITUTION

Abstract

The article is devoted to the search for ways to achieve the stability of public finances, through the modernization of relations that positively change the infrastructure of the financial environment and, first of all, it concerns the institutions operating in it. The object of the research is the Institute of Financial Control. The subject of the study is analytical tools of diagnosis and assessment of the quality of state financial control in the country by agents of the Institute of Fi­nancial Control. The use of analytical tools with the specified purpose can be attributed to work with large data, i.e. "big data", and the process of using them as work with "raw data" with the help of "data mining" and "data extraction".

The current state of affairs with the quality of data in the reporting of controlling institutions, taking into account their volume, leads to the opinion about the possibility of a certain subjectivity in the reporting data of controlling institutions, which violates the objectivity of the obtained result for the user of their reporting. In turn, the lack of objective data in the specified section leads to negative causes and their consequences. This scientific search will be devoted to overcoming them.

The research will become the basis for solving an important task for the theory, methodology and practice of financial science, and, first of all, in matters of financial auditing (Government au­diting), from the modernization of reporting, assessment, diagnosis and goal setting of controlling institutions to the improvement of work on processing and analyzing big data and establishing criteria for the possibility of using AI (Artificial Intelligence).

The main result of the carried out scientific research is the first proposed institutional design of both the powers of the financial control institute and its effectiveness in the form of indicators and parameters of the Effective Control Formula - i.e. their digitization, for their digital/numerical display. A formalized record was chosen as the design implementation method, which will be used to write down the powers and effectiveness as a set and, accordingly, the points of the set of its structure. The formalization was implemented with the help of the developed universal formula of the indicator (or Formula of the set of the indicator), written with the help of a certain abstract identifier for recording the point of the set as a structural element of one or another indicator. At the same time, the formalized record of the abstract identifier of the elemental structure of a certain indicator uses a specific code. The specified formula is an additional analytical tool (for individual tasks) and a tool used for in-depth analysis. The formula of the set of the indicator is, in fact, a converter for transforming standardized financial concepts (processes, phenomena, etc.), from the institutional sphere of financial control, into their digital/numerical form - that is, a digitization converter.