SECURITY OF THE FINANCIAL SERVICES MARKET BASED ON SYSTEMIC SUPERVISION AND RELIABLE FINANCIAL CONTROL

Abstract

The article draws attention to the importance of the financial services market for the development of all areas of the economy. This market is necessary for the attraction of financial resources and the possibility of directing them to the functioning of both the branches of the state and individual farms. Emphasis is placed on the fact that the provision of financial services and the functioning of the financial services market require a stricter legal framework and restrictions that will ensure the financial security of the state and consumers of financial services and reduce the level of risk. The publication pays attention to the importance of state regulation, including its form of supervision and control. Constant monitoring and a variety of sources of information contribute to the timeliness of taking measures to prevent risks and stabilize the situation on the financial services market. Supervision is carried out on the basis of reporting data, analysis of external and internal risks, assessment of the economic situation, as well as the results of inspections of financial service providers. It is substantiated that the stability of financial services as a whole is ensured by the financial stability of an individual subject. To ensure this, it is necessary to carry out on-site inspections that are able to assess the reliability of information in submitted reports, the timeliness of fulfilling obligations to service consumers and compliance with economic standards. The article focuses on the necessity of creating and providing internal audit units and using the services of external auditors, which contribute to the stability and financial security of the activities of financial service providers.