Administrative and legal regulation of public financial activity

Abstract

The purpose of the research is the basic characteristics of the management of financial activity in countries such as: France, Germany, United States of America, Great Britain, and Sweden. The organizational structure of financial management bodies was studied and the participation of state legislatures in financial policy was emphasized. Also, a review of materials and methods was carried out based on the analysis of documents for the regulation of public financial activity. The methodology included a comprehensive analysis and generalization of the available scientific and theoretical material, as well as the formulation of relevant conclusions. During the research, the methods of scientific cognition were used: terminological, logical-semantic, functional, system-structural, logical-normative, comparative. It is concluded that the participation of all the higher powers of government is fundamental in the formation and implementation of public policy in the field of finance; this requires a wide range of bodies and institutions exercising control over financial activities; concentration of financial management in a singleline ministry, as well as distribution among several ministries and a clear division of powers between financial management bodies, among other aspects.