ОРГАНІЗАЦІЯ ВНУТРІШНЬОГО КОНТРОЛЮ ЗОВНІШНЬОЕКОНОМІЧНОЇ ДІЯЛЬНОСТІ У БЮДЖЕТНИХ УСТАНОВАХ: РОЗМЕЖУВАННЯ ПОВНОВАЖЕНЬ, ВАЛЮТНІ ТА ПОДАТКОВІ РИЗИКИ, ORGANISATION OF INTERNAL CONTROL OVER FOREIGN ECONOMIC ACTIVITY IN BUDGETARY INSTITUTIONS: ALLOCATION OF POWERS, FOREIGN EXCHANGE AND TAX RISKS

<jats:p>The relevance of the topic is reinforced by the fact that the foreign economic activity of budgetary institutions is accompanied by an increased level of foreign exchange, tax, customs, licensing and organisational risks, which may lead to financial losses, sanctions, distortion of accounting information and reduced transparency in the use of public funds. Under such conditions, the construction of an internal control system focused on timely risk identification, clear allocation of powers between control actors and the formation of effective procedures of preliminary, current and subsequent control becomes particularly important. Theoretical and applied aspects of internal control in budgetary institutions, as well as risks of foreign economic activity, are covered in the works of Ukrainian scholars and in methodological documents of public authorities; however, the issue of a comprehensive combination of internal control of foreign economic activity with the management of foreign exchange and tax risks in budgetary institutions remains insufficiently developed. Special attention is required for the adaptation of a risk oriented approach and the “three lines of defence” model to the specifics of budget funds managers’ activities in the sphere of international operations. The purpose of the article is to substantiate the theoretical and methodological foundations of organising internal control of foreign economic activity in budgetary institutions, with an emphasis on the allocation of powers, management of foreign exchange and tax risks, and control over compliance with licensing and customs procedures. To achieve this aim, the paper defines the essence and regulatory framework of internal control of foreign economic activity in budgetary institutions, systematises key groups of risks, and proposes a matrix of powers allocation and a generalised model of the internal control system of foreign economic activity. Internal control of foreign economic activity in budgetary institutions should be considered as an integrated risk management system that ensures the legality, transparency and reliability of accounting for international operations. The proposed classification of foreign economic activity risks, matrix of powers allocation and model of internal control over foreign exchange and tax risks form a methodological basis for improving internal regulations and control practices of budget funds managers.</jats:p>