economy. The author gives specific examples, substantiates need for an explicit use of the terms "control", "supervision …", "audit", "monitoring" in legislation.Special attention is paid to the organization of the state (municipal) financial control …

. Agents have many opportunities to shirk, task-level monitoring is needed to provide useful incentives, and because it is … endogenous supervision structures. Agents optimally make more promises than they intend to keep, leading to the concentration of …

Central Monetary Authorities in these countries are very proactive in terms of supervising and monitoring their regulations on …

for private banks and the efficiency of monitoring and supervision have to play a great role. Liberalization of markets … by supervisory authorities and by markets. Effective regulation (internal and external) and supervision of banks and …