Financial law is that right that is responsible for regulating and organizing all activities that have to do with the finances and budgeting of a State. As such, financial law (unlike tax or fiscal law) is part of public law since it is established between public entities such as States, administrative and legislative institutions, etc. Financial law is highly relevant with regard to the proper functioning of the States since it is responsible for granting governing entities and persons with the monetary and financial prerogatives to carry out different government projects, measures and decisions that require the use of the available budget.
To understand the usefulness of financial law, it is necessary to make it clear that all States need to have a more or less planned or planned budget on an annual basis to project different types of works and measures to be carried out. Unlike what happened with the monarchical governments of other times, today most of the world's democracies have their own version of financial law, that is, the set of rules, regulations and laws that establish characteristic elements of the financial law. management of public funds.
The main objective of financial law is to prevent the abuse of public funds at the hands of shift officials and this is achieved through the establishment of limits, controls and regulations on the use of those capitals that are considered not belonging to the person who is It finds governing if not the contribution of all the individuals that make up society. Financial law can also establish prerogatives, facilities and exceptions that take into account particular situations (such as emergency situations) in which the use of public funds may have to do with urgent needs. Thus, financial law organizes in every sense the destination given to these public funds, trying to avoid situations of abuse or corruption, but also allowing adaptation to various contingencies.
