Monitoring the Eff ectiveness and Balance of the Organization’s Compliance Control System (Part 1)

Auditor ◽  
2021 ◽  
pp. 8-15
Author(s):  
Vilena Yakimova
Keyword(s):  
Control System ◽  
Theoretical Model ◽  
Internal Control ◽  
Compliance Control ◽  
Internal Auditors ◽  
System Part ◽  
Methodological Aspects

The article is devoted to the study of methodological aspects of assessing compliance control as one of the forms of internal control aimed at preventing violations of legislation in the field of finance, taxes and entrepreneurship. In the course of analyzing the existing methods for assessing the ICS, a theoretical model was formed, including the concept, approaches to organizing, assessing the ICS, a group of qualitative and point-weight methods. The article proposes the author's methodology for testing the internal compliance control system, which has applied significance for monitoring carried out by audit organizations and internal auditors.

Monitoring the Eff ectiveness and Balance of the Organization’s Compliance Control System (Part 2)

Auditor ◽  
2021 ◽  
pp. 29-38
Author(s):  
Vilena Yakimova
Keyword(s):  
Control System ◽  
Theoretical Model ◽  
Internal Control ◽  
Compliance Control ◽  
Internal Auditors ◽  
System Part ◽  
Methodological Aspects

Th e article is devoted to the study of methodological aspects of assessing compliance control as one of the forms of internal control aimed at preventing violations of legislation in the fi eld of fi nance, taxes and entrepreneurship. In the course of analyzing the existing methods for assessing the ICS, a theoretical model was formed, including the concept, approaches to organizing, assessing the ICS, a group of qualitative and point-weight methods. Th e article proposes the author’s methodology for testing the internal compliance control system, which has applied signifi cance for monitoring carried out by audit organizations and internal auditors.

THE ESSENCE, GOALS AND OBJECTIVES OF THE ANALYSIS OF THE FINANCIAL CONDITION OF AN ECONOMIC ENTITY AND ITS USE IN THE COMPLIANCE CONTROL SYSTEM

2021 ◽  
Vol 3 (11) ◽  
pp. 161-165
Author(s):  
Tatiana M. Rogulenko ◽  
◽  
Valeria V. Mironenko ◽  
Keyword(s):  
Control System ◽  
Internal Control ◽  
Financial Analysis ◽  
Corporate Management ◽  
External Influence ◽  
Compliance Control ◽  
Financial Condition ◽  
Economic Entity ◽  
Goals And Objectives

This article raises the problem of improving the analysis of the financial condition of an eco-nomic entity and its use in the compliance control system. The main tasks of using the analysis in the compliance control system in order to increase the efficiency of corporate management of the economic activity of an economic entity have been determined. It is emphasized that the analysis of the financial condition is one of the mandatory components of both internal control and compliance control, the differences in the use of the analysis results are analyzed. It is concluded that the role of financial analysis and its use in the compliance control system in order to improve the efficiency of corporate governance is constantly increasing in order to prevent compliance risks and regulatory risks due to external influence of supervisors.

scholarly journals Internal Auditor Involvement In Internal Control System Design? Is Objectivity Impaired?

2011 ◽  
Vol 8 (4) ◽  
pp. 15 ◽  
Author(s):  
Bryan K. Church ◽  
Arnold Schneider
Keyword(s):  
Decision Making ◽  
Control System ◽  
System Design ◽  
Internal Control ◽  
Control System Design ◽  
Internal Auditor ◽  
Internal Auditors ◽  
Behavioral Decision Making ◽  
Behavioral Decision ◽  
Internal Control System

Research in behavioral decision making suggests that internal auditors who are involved in the design of a particular internal control system may be reluctant to find fault with the system, and in turn, their objectivity may be impaired. The purpose of our study was to test this assertion. We found, contrary to the assertion, that internal auditors who participated in the design of a particular system were able to maintain their objectivity.

scholarly journals The Quality of State-Property Reporting: Determinants and Intervening Role of Optimization Management in Indonesia Regional Case

2020 ◽  
Vol 12 (2) ◽  
pp. 127-139
Author(s):  
Indah Anisykurlillah ◽  
Anggita Oktaviana
Keyword(s):  
Control System ◽  
Internal Control ◽  
Reporting Quality ◽  
Property Management ◽  
Internal Auditors ◽  
Internal Control System ◽  
Optimization Management ◽  
Management Optimization ◽  
The Impact

This study examines the effect of legal audit, internal control system, IT utilization, and internal auditors' role as determinants of the quality of state-property reporting intervened by management optimization. The population is the Tegal Regional employee, who manages state-property, including users, regulators, and keepers in 36 regional offices. This case reflects the management and reporting of state-property in the Indonesia regional. Seventy-six respondents were sampled to answer the research instrument and analyzed it by path analysis. The results show that the internal control system, IT utilization, and state property management optimization positively affect state-property reporting quality. The use of internal control systems and IT utilization positively influence the optimization of state-property management. The results also prove that management optimization mediates the internal control system and IT utilization on state-property reporting quality. Contrary evidence that management optimization does not mediate the impact of legal audits and internal auditors' role on the state property report's quality.

Development of an Anomaly Detection Model for a Bank's Transitory Account System

2014 ◽  
Vol 28 (1) ◽  
pp. 145-165 ◽  
Author(s):  
Yongbum Kim ◽  
Alexander Kogan
Keyword(s):  
Control System ◽  
Human Resources ◽  
Internal Control ◽  
Fraud Detection ◽  
Financial Statements ◽  
Internal Auditors ◽  
Detection Model ◽  
Cost Constraints ◽  
Internal Control System ◽  
Account System

ABSTRACT Fraud detection is one of the key components of an internal control system that is designed to provide reasonable assurance regarding reliable financial statements, effective and efficient operations, compliance with applicable laws and regulations, and safeguarding of assets (AICPA 2002; Committee of Sponsoring Organizations of the Treadway Commission 1992). Practically, however, it is challenging to determine what should be investigated among myriads of a company's transactions, most of which are normal and/or free from material error. Limited human resources and cost constraints are major barriers to fraud detection in practice. This study proposes a multi-step fraud detection model that screens transactions at various levels, which leads to a manageable number of transactions that internal auditors can examine. To that end, a broad screening criterion is applied at the highest level, while more detailed criteria are used at the lowest level. This study provides an example of development of a practicable fraud detection model.

Development of the financial control system of foreign economic activity of organizations

2021 ◽  
Author(s):  
Vilena Yakimova ◽  
Svetlana Pankova ◽  
Sergey Khmura
Keyword(s):  
Control System ◽  
University Students ◽  
Economic Activity ◽  
Subject Area ◽  
Economic Security ◽  
Practical Work ◽  
Financial Control ◽  
Compliance Control ◽  
External Auditors ◽  
Methodological Aspects

The monograph presents the results of research on theoretical and methodological aspects of the control of enterprises engaged in foreign economic activity. The features of export-import operations as a subject area of ​​control carried out by internal and external auditors are disclosed. The paper proposes the development of methodological support for compliance control based on the development of verification programs, working documentation forms, compliance procedures for assessing compliance with financial legislation. The monograph is intended for undergraduates, postgraduates and university students studying in the areas of "Economic security" and "Economics", and can also be useful for managers, chief accountants and economists, analysts and auditors of enterprises in their practical work.

Economic diagnostics of accounts receivable and payable in the internal control system of the organization

2021 ◽  
Vol 22 (12) ◽  
pp. 1425-1448
Author(s):  
Liliya B. SUNGATULLINA ◽  
Ilyuza I. MUZAFAROVA
Keyword(s):  
Control System ◽  
Internal Control ◽  
Rate Of Change ◽  
Effective Control ◽  
Accounts Receivable ◽  
Financial Condition ◽  
Internal Control System ◽  
Analysis And Synthesis ◽  
Debt Collection ◽  
Methodological Aspects

Subject. This article considers the methodological aspects of economic diagnostics of accounts receivable and payable in the system of internal control of the organization. Objectives. The article aims to highlight the elements of economic diagnostics of the organization's debt in the internal control system and develop methodological approaches to the assessment of accounts receivable and payable. Methods. For the study, we used analysis and synthesis, induction and deduction, as well as comparison, logical generalization, systemic reasoning, and analytical forecasting tools. Results. The article presents an author-developed methodology of economic diagnostics of resources in settlements in the internal control system of the organization. It is based on an algorithm for assessing the dynamics of the turnover of accounts receivable and payable and monitoring their mutual ratio, identifying debt collection reserves, monetizing and forecasting the repayment of current debts. Also, for the operational systematization of information and effective control over the rate of change in accounts receivable and payable, the article offers developed forms of management reporting. Conclusions and Relevance. The developed methodology for economic diagnostics of accounts receivable and payable helps, on the basis of information on the changes in mutual turnover of obligations in the context of counterparties, identify available financial resources, determine possible reserves for debt collection, and make payment predictions. The results of the study can be applied when organizing the internal control system of accounts receivable and payable in the context of assessing the financial condition of the organization.

Methodological aspects of the organization of internal control over the preparation of financial statements in economic entities

2020 ◽  
pp. 39-56
Author(s):  
Zhanna Arakelovna Kevorkova
Keyword(s):  
Control System ◽  
Financial Reporting ◽  
Internal Control ◽  
Business Processes ◽  
Financial Statements ◽  
Federal Law ◽  
Internal Control System ◽  
Definition Of ◽  
Methodological Aspects

The need to organize internal control, the mandatory nature of which is regulated by the Federal law “on accounting” FZ‑402, can be implemented in various forms. The results of the analysis of practices the largest economic entities in terms of internal control has identified some features of the methodological and organizational implementation of the system of internal control over financial reporting, which can be embedded in the activities of the internal control (audit) of various organizations. The author shows the sequence of organization of the internal control system for the preparation of financial statements, taking into account the definition of critical business processes of economic entities and related elements of financial reporting, which will be the focus of the internal control system.

The practical specifics of compliance procedures as part of internal control of organizations' exports

2021 ◽  
Vol 22 (4) ◽  
pp. 459-486
Author(s):  
Vilena A. YAKIMOVA
Keyword(s):  
Control System ◽  
Internal Control ◽  
Business Processes ◽  
Methodological Approach ◽  
Control Program ◽  
Compliance Control ◽  
Business Operations ◽  
Control Procedures ◽  
Bona Fide ◽  
Contractual Obligations

Subject. The article discusses compliance procedures for improving the internal control system and accommodating to the specifics of exporting enterprises' financial and business operations. Objectives. The study is intended to formulate a methodological framework of compliance control to check whether exporting enterprises are compliant with financial laws. Methods. The study is based on the methods of comparison, checkerboard analysis, planning, classification, grouping, summary and systematization. Results. I formulated a compliance control program, which would account for the specifics of the exporting enterprise's financial and business operations, business processes of the exporting activity and compliance risk (associated with taxes, customs, currency, contractual obligations). The article enlists working papers needed to summarize results of tax, currency and accounting compliance procedures. I set forth a methodological approach based on the checkerboard analysis of reconciliation and comparison of export documents. Conclusions and Relevance. Exporting enterprises need the compliance control procedures to mitigate the probability of compliance risks and eliminate financial implications, such as fines, penalties for legislative and contractual breaches. Based on the proposed compliance procedure, the compliance control system will allow the exporting enterprise to gain a positive business reputation in the Russian and foreign distribution markets, and create an image of a bona fide and law-abiding taxpayer. The findings can be used to perform internal controls at exporting enterprises.

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