The Role of Internal Control in Managing The Risks Specific to The Financial Field

This article deals with a currently discussed topic, namely that of preventive financial control, a concept that has to ensure a reasonable use of public funds in a transparent, economical, efficient and effective manner. In this sense the issues related to public internal financial control are considered instruments that actively influence the organizational and managerial culture of the public entity in a positive manner by engaging in control actions that are meant to identify and stop the possible illegal activities or actions, fraudulent or uneconomical use of public funds. I further detail the concept of public financial control with the two principal branches, that is the preventive financial control and the preventive financial control proper. The preventive financial control proper, by exercising the control visa for every financial supporting document affecting public funds, is a cornerstone regarding the exercise of financial control activity.