Strekal O. Modernization of state financial control of national oil and gas corporations of Ukraine

The essence of state financial control of corporations and theoretical approaches to its definition are revealed due to the different understanding of the purpose of state financial control and approaches to the evaluation of its effectiveness. The state financial control of national oil and gas corporations is singled out as an element of the state financial policy, while it is characterized by an independent subject, and also provides for the availability of facilities and stages for the implementation of control measures. The features of classification of forms, types and methods of state financial control of corporations are defined. The European experience of formation the state financial control systems of corporations generalized in terms of its possible modernization in Ukraine. The state financial control of corporations in the European countries based on generally accepted principles, developed for a long time and adopted by the Lima Declaration of Guidelines on Auditing Precepts. The necessity of modernization the state financial control in the process of Euro-integration relations is substantiated. The main principles of the state financial control of the national oil and gas corporations of Ukraine are revealed, the importance of which is increasing due to the necessity to perform also the social and economic tasks. It is defined that the low effectiveness of methods, mechanisms and instruments, and also the effectiveness of sanctions for detected offenses in the activities of the national oil and gas corporations of Ukraine leads to the general ineffectiveness of financial control of national oil and gas corporations in Ukraine. The important role of the state financial control of oil and gas corporations as an integral part of the financial policy of Ukraine is determined (based on the activities of NJSC “Naftogaz of Ukraine”). The analysis of financial and economic activities of the national oil and gas corporations of Ukraine demonstrated the important role of integration into the organizational structure of such enterprises of separated divisions which should be responsible for providing an internal financial control. The positive correlation between the state financial control and the business effectiveness of NJSC “Naftogaz of Ukraine” are revealed, so ensuring that the effectiveness of state financial control allows not only saving budgetary funds, but also ensuring positive dynamics of budget deficit.