The role of financial control in the company’s activities and methods of improving its efficiency

The article reveals the role of financial control as an instrument of state financial regulation. Financial control as a set of measures to comply with legislation and financial discipline by subjects of all forms of business and public administration implies an analytical assessment of the effectiveness of financial and business operations carried out and the expediency of expenses incurred. The purpose of the study is to disclose the concept of financial control, the main features of its implementation in commercial organizations and the development of methods to improve its effectiveness. Financial control as a tool of control and management has been developing for many years within the framework of public finance. With the development of private entrepreneurship, business entities have come to the need to involve financial control in their activities. The expediency of financial control from an economic point of view means not only immediate results, but also consideration of related costs. When conducting an analytical comparison of the results of financial control and the costs associated with its implementation, it becomes obvious that the cost of verification should be justified by the effectiveness achieved as a result of control measures. Therefore, special attention should be paid to optimizing control processes: minimizing inspection time, rational allocation of human resources and reducing transport costs can significantly increase its economic impact. That is why, as a basic criterion for the effectiveness of financial control, its economic feasibility acts.