DESCRIPTION OF EVALUATION METHODS RISKS OF THE BUDGET PROCESS

Анотація

The article characterizes the methods of risk assessment that arise at all levels and stages of the budget process. The purpose of the study is to systematize the existing methods of assessing the risks of the budget process in the context of the need to improve the efficiency of the budget system in the current economic environment and to comprehensively study the issues of methods of assessing budget risks, including their theoretical foundations and classification. The budget process at all its levels and stages is constantly influenced by numerous internal and external risk factors, which in turn affect the performance of business entities, primarily public sector institutions. Effective management of public financial resources is one of the key points in public administration. Assessment of budget risks is one of the first steps in making management decisions on the choice of further measures to respond to the identified and assessed risks. The effectiveness of public sector institutions directly depends on the impact of various challenges and threats, which are reflected in the achievement of the goal, fulfillment of tasks, plans and objectives of such institutions. It is important to correctly assess budget risks in order to make further effective management decisions, to improve the efficiency of budget spending and the use of public financial resources in general. It should be noted that the issues of research on risk assessment methods are mostly aimed at an in-depth study of the process of assessing financial risks rather than budgetary risks. Accordingly, there is a need for a systematic analysis and study of existing methods of budget risk assessment, as well as detailing some aspects of the methodology, techniques and methods of budget risk assessment to adapt them to the needs and challenges of the budget system of our country, considering the needs of today. In the context of constant changes in the economic environment, the efficient functioning of the public sector is becoming one of the main factors for the successful future of Ukraine. Timely identification and assessment of budget risks is an integral part of this process.

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