Home  Journals  International Accounting  6(480) - 2021 June

The concept of internal financial control in a State-financed institution

Received: 19 April 2021

Received in revised form: 10 May 2021

Accepted: 18 May 2021

Available online: 15 June 2021

Subject Heading: CONTROL AND AUDIT

JEL Classification: Н83, M42

Pages: 667–683

https://doi.org/10.24891/ia.24.6.667

Subject. The article discusses the definition of Internal Financial Control in a State-Financed Institution and relevant issues.
Objectives. I determine the substance of internal financial control with respect to operations of a State-financed institution.
Methods. The study is based on methods of analysis, grouping, comparison, generalization, and the deductive method.
Results. I scrutinized the substance of the term internal financial control through the deductive method. I sorted opinions on the definition of Control, Financial Control, Internal Control, Internal Financial Control. The article presents my own view on the relationship of internal business control, internal control, internal financial control. The article specifies the definition of Internal Financial Control in a State-Financed Institution, which is logically formulated, profoundly conveys the most critical qualities of the definiendum.
Conclusions and Relevance. The robust terminological framework for research and appropriate definitions of respective terms helps correctly comprehend authors' views, ideas and conclusions.

Keywords: control, internal control, internal financial control, budgetary institution

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