CURRENT STATUS OF FINANCIAL CONTROL IN THE CONTEXT OF DEVELOPMENT OF THE DIGITAL ECONOMY IN THE NATIONAL ECONOMY.

Аннотация

This article analyzes the current state of financial control in the national economy in the context of the digital economy. At a time when digital technologies are rapidly developing, the updating of financial control methods and mechanisms, their compliance with modern requirements, is of particular importance. The article presents the institutional foundations of the financial control system in the conditions of Uzbekistan, the problems encountered in the process of digitalization, and recommendations for their solution. It also highlights the prospects for digitalization offinancial control based onadvanced foreign experience. Keywords: digital economy, financial control, digitalization process, budget control, fiscal policy, economic security, public finance, audit, control system, economy of Uzbekistan, financial monitoring, modern technologies, digital transformation, fight against corruption, financial transparency. In today's era of globalization and technological progress, thedigital economy is deeply penetrating all spheres of human activity. In particular, digitalization processes are being implemented at a rapid pace in public finance and economic management systems. At the same time, these changes also require a new approach to the financial control system. In the digital economy, financial control plays an important role not only in ensuring the targeted and effective use of budget funds, but also inensuring economic security and transparency. In the Republic of Uzbekistan, in recent years, digital transformation processes have been actively introduced into the public finance management system. This article analyzes the current state of financial control in this process, the problems encountered, and ways to overcome them. It also considers the prospects for further improving financial control in our country based on advanced foreign experience. At this point, it would be appropriate to touch upon the history of the application of financial control forms in Uzbekistan. The financial control system in Uzbekistan has been gradually taking shape since independence, that is, since 1991. In the early years, the main forms of financial control were aimed at controlling statebudget expenditures, monitoringtax revenues, and ensuring therational useofstateproperty. 1992 and 2000, financial control was mainly carried out through traditional audits, revisions, and financial inspections. During this period, the financial control departments of the Ministry of Financeacted as the main competent bodies. http://www.internationaljournal.co.in/index.php/jasass 845 Volume 15Issue 06, June 2025 Impact factor: 2019: 4.679 2020: 5.015 2021: 5.436, 2022: 5.242, 2023: 6.995, 2024 7.75 Since the 2000s, in the process of modernization of the economy, laws have been adopted that legally regulate auditing activities. In particular, the Decree of the President of the Republic of Uzbekistan No. PF-6300 dated August 27, 2021 " On measures to further improve the state financial control system " Decree , the new edition of the Law "On Auditing Activities" in 2007 laid the foundation for the formation of the audit institution as an independent form of financial control. In the 2010s, forms such as internal audit, state financial control, operational monitoring, and targeted analytical control began to be used more widely. During this period, forms of financial control becamespecialized bysectorand region. After 2020, the forms of financial control have changed fundamentally based on the digitalization policy. Traditional document checks have been replaced by advanced forms such as electronic monitoring, digital audit, real-time financial analysis. The introduction of electronic information systems for public procurement, tax revenues, and budget expenditures has accelerated these changes. As a result of studying the current state of financial control in Uzbekistan, we can observe that large-scale measures are being taken to reform this area, but despite this, the volume and numberof cases being detected are increasing . This, in turn, indicates that the government, ministries, and departments should pay close attention to the financial control sector ,and that its legally secured infrastructure should be created based on modern technologies. In our opinion, financial control should not be limited to the distribution of available funds, their targeted spending, and their focus on the efficiency of their use, but should also encompass the full formation of revenue funds,which are importantfor theformation ofvarious funds. Below, the results of tax audits conducted from January to October 2024 based on social media data show that the amount of tax risk identified in the risk analysis program was 3,834.8 billion soums, while in reality, 4,841.4 billion soums were identified as a result of tax audits, of which the amount oftax due was 3,150.3billionsoums, and1,125.6billion soumswere paid bytaxpayers. At the same time, as a result