Abstract:

Financial control as a tool of performance within economic entities is indispensable in the context of business development, not only in terms of volumes but also of the overall efficiency of the activity. The objective of this paper is to identify the difficulties in implementing the financial control process as part of the internal control system both from the perspective of national legislation harmonized with the European or international one and from the perspective of the usefulness of this type of control in the performance oriented entities. It is also important to analyze the relationship between internal financial control and managerial control as it resides in the fact that the first area is the subject and the second one is the object of the research, thus projecting the background on which this specific relationship is projected, which includes, at her turn, a set of processes and management relationships. The work is divided into two planes. In the first part the authors focused their attention on the role of financial control at the level of the performance oriented entities, and in the second part the authors made a comparative analysis of the macroeconomic level of the financial control in Romania, the Republic of Moldova and Russia. The work is based on the qualitative research method and on the comparative study to find the answer to the to the previously mentioned objectives.