Introduction of FUK
Financial management and control system.
Law on the Budget System of the Republic of Slovenia
The Law on the Budget System of the Republic of Slovenia requires the introduction of a system of financial management and control and reporting to the Ministry of Finance of the Republic of Slovenia on the implementation and implementation of said system. Since 2025, the Law has also prescribed criminal provisions if the user of public funds does not submit a report on the adequacy and functioning of the financial management and control system (FUK) within the prescribed period.
In addition to the legal obligation of users of public funds to introduce and implement financial management and control systems, there are a number of other benefits for the organization. First of all, the laws do not define internal controls and levels of responsibility, which is very important to reduce the risk of doing business to an acceptable level. The end result of the established FUK system is the adopted written procedures for each mapped business process, with precisely defined control activities, broken down by job positions and defined time intervals. This is also very important when several laws and bylaws are intertwined for a particular business activity, which is very often the case.
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In joint cooperation, during the implementation of the FUK system, we help the user of public funds to adopt the Risk Register for each business process. Our team of experts will help your organization to identify the risks of the business, to measure their impact and probability of occurrence, to be adequately measured and ranked accordingly. Risks cannot be eliminated, as long as the business process exists in the organization, but with adequate management, they can be minimized.
Although the ultimate responsibility for establishing and updating the financial management and control system lies with the manager of the beneficiary of public funds, it should be seen as a strong tool that facilitates the achievement of the organization's business objectives.
Our team of consultants, in cooperation with the management of the organization, will carry out a detailed analysis of the existing state of affairs in the entire business system, on the basis of which we will jointly develop and adapt the FUK system, with all the benefits that it brings to the organization.
