On the second day of the Moscow Financial Forum, on September 7, the discussion will center on the topics of financial control and audit.
Today, the focus of financial control is shifting towards preventing violations and creating an environment which would make them impossible. Accordingly, financial regulators need to revise their approach and to shift from "policing" and imposing fines to "proactive" control that would enable them to prevent violations and provide the monitored entity with recommendations for improving the quality of financial management.
The participants of the session titled "Financial Control and Audit as a Basis for Improving Quality of Public Finance Management" will discuss matters related to the use of information systems and the treasury support mechanism for financial control, assessment of the quality of financial management in government institutions, cooperation between the internal audit function and external controllers, procurement control, etc.
As part of the discussion, speakers will seek to find ways to improve the quality of public finance management using financial control capabilities.