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Risk-Based Assessment of the Performance of Territorial Bodies of the Federal Treasury of the Russian Federation

Author

Listed:
  • Elena A. Fedchenko

    (Department of Financial Control and Treasury, Financial University under the Government of the Russian Federation, 49 Leningradskiy Ave., Moscow 125993, Russia)

  • Lyubov V. Gusarova

    (Department of Financial Control and Treasury, Financial University under the Government of the Russian Federation, 49 Leningradskiy Ave., Moscow 125993, Russia)

  • Inna M. Vankovich

    (Department of Financial Control and Treasury, Financial University under the Government of the Russian Federation, 49 Leningradskiy Ave., Moscow 125993, Russia)

  • Alexander S. Lozhechko

    (Department of Public Finance, Financial University under the Government of the Russian Federation, 49 Leningradskiy Ave., Moscow 125993, Russia)

  • Anastasia A. Lysenko

    (Department of Financial Control and Treasury, Financial University under the Government of the Russian Federation, 49 Leningradskiy Ave., Moscow 125993, Russia)

Abstract

This paper presents the authors’ methodology of a risk-oriented approach to assessing the performance of territorial bodies of the Federal Treasury of the Russian Federation. The proposed methodology consists in the application of adjustment coefficients, which account for the quality of the execution of budgetary powers and the growth rate of the gross regional product of the corresponding territory. The goal of the study is to develop a risk-oriented methodology for assessing the contribution of the territorial bodies of the Federal Treasury to the United Nations sustainable development goals and national goals. The current study employs systemic, process based, risk-oriented approaches, statistical data analysis, and mathematical research methods. The gross regional product for the subjects of the Russian Federation is calculated for 2018–2019. Based on an analysis of Russian and foreign research on modern controlling systems and in accordance with the current concept of controlling, an attempt is made to develop a methodology for assessing the performance of the Federal Treasury and its territorial bodies. The main conclusion of the study is that the most expedient approach to assessing the efficiency of territorial bodies of the Federal Treasury is through the balanced scorecard system built in accordance with the strategic goals of the Federal Treasury, the national goals of the Russian Federation, and the UN SDGs.

Suggested Citation

  • Elena A. Fedchenko & Lyubov V. Gusarova & Inna M. Vankovich & Alexander S. Lozhechko & Anastasia A. Lysenko, 2023. "Risk-Based Assessment of the Performance of Territorial Bodies of the Federal Treasury of the Russian Federation," Risks, MDPI, vol. 11(11), pages 1-17, November.
    • Handle: RePEc:gam:jrisks:v:11:y:2023:i:11:p:202-:d:1282548
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    References listed on IDEAS

    as
    1. Enrico Bracci & Tallaki Mouhcine & Tarek Rana & Danture Wickramasinghe, 2022. "Risk management and management accounting control systems in public sector organizations: a systematic literature review," Public Money & Management, Taylor & Francis Journals, vol. 42(6), pages 395-402, August.
    2. Tarek Rana & Danture Wickramasinghe & Enrico Bracci, 2019. "New development: Integrating risk management in management control systems—lessons for public sector managers," Public Money & Management, Taylor & Francis Journals, vol. 39(2), pages 148-151, February.
    Full references (including those not matched with items on IDEAS)

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