Financial control as a legal institution: a comparative legal analysis of the Russian and EU expertise

Abstract

The article considers major theoretical approaches to the notion of financial control in the legislation of the Russian Federation and EU countries. A comprehensive analysis provides a better understanding of this financial law institution both in the Russian and European legal sciences. The authors compare positions of a number of modern scholars, which enables them to develop a universal approach to the legal nature and essence of financial control. The authors’ approach is based on two premises: (1) financial control is possible only within the framework of financial relations, and (2) these frames are defined by the norms of financial legislation on a given territory. Financial control includes a system of controlling bodies as well as ways and means of their functioning. In its nature, financial control is a complex phenomenon, which has its objectives, sphere of application, object, subject and methods of research