The Current Status of the State Financial Audit in Ukraine and Prospects of its Development

The article is aimed at studying the current status and determining the main results of conducting the State financial audit by the State audit service in Ukraine, as well as developing proposals as to ways of its improvement in view of the experience of the world’s leading countries and the requirements of international standards in this sphere of relations. The main indicators and results, which characterize the status of conducting by bodies of the State Audit Service of the State financial audit on key directions, were considered. The obtained data indicate that the State financial audit is taking place in the direction corresponding to international practice. Today, however, because of a number of problems and declarative provisions related to the organization and conduct of the State financial audit, it cannot fully implement all its functional capabilities and tasks. Directions of improvement and transformation of the State financial audit have been proposed. The prospect for further research is development of a holistic mechanism for the functioning of the State financial audit, which will unite all its directions at different levels and its participants