The financial inspection shall be implemented in budget organizations, including the authority of the judicial power; all state enterprises of art. 62, para.3 of the Commercial Law; the commercial companies with blocking quota state or municipal participation in the capital, as well as their subsidiary companies with blocking quota; the corporate bodies that have liabilities guaranteed with state or municipal property; the corporate bodies under the Law for the nonprofit corporate bodies and the unregistered partnership by the Law of obligations and contracts in which the state or the municipality participate directly or indirectly in their property; the persons financed with resources from the international agreements or programs of the European Union, as well as the persons that other special Law had provided that they are subject of financial inspection by The Public Financial Inspection Law. According to The Energy Act financial inspections and checks shall be done in energy companies that implement activities with regulated prices, including those with preferential prices of electric energy. The authorities of the agency shall control only the producers of electric energy, holding a plant with a total installed electric power of over 1 MW.

 The financial inspections shall be implemented upon received appeals, complaints and signals from authorities, individuals or legal entities regarding violations of the budget, financial-economic or accounting activity of the persons and organizations above, on request by the Council of Ministers or by the Minister of Finance or upon assignment by the bodies of prosecution by the order of the Law of judicial power.

In 2011 amendments to The Public Financial Inspection Law were made in response to the findings of the Fourth Annual Report of the European Commission from July 2010, on the progress of Bulgaria under the Co-operation and Verification Mechanism, as well as under the measures for implementations of the recommendations in activity №16 and № 15 from the Schedules of urgent measures and actions of the Government and the judicial authorities in the field of the judicial reform and the fight with corruption and organized crime for August-December 2010 and March-July 2011. The amendments regulate the new function of financial control in the public procurements, on the basis of an annual plan drawn after analysis and assessment of risk factors. The planned approach aims to prevent and reduce the risk of uncontrolled spending of public finances, while at the same time having a disciplinary effect over the public procurements` contracting entities and providing legal possibility to the PFIA`s authorities to extent the control and direct it against the high-risk contracting entities.

In addition, the financial inspection verifies conducted procedures of public procurements on the basis of information from the Register of public procurements, the Agency for public procurements and the Audit Office. It also checks the spending of the state aids and the purposed subsidies granted under the Law of the state budget of the Republic of Bulgaria for the respective year and decree of the Council of Ministers. The financial inspection shall be implemented based on received signals about violations concerning the protection of the financial interests of the European Union, determined by the Central Coordination Unit of the fight against infringements under the Ministry of Interior.