scholarly journals The Risk-Oriented System of Financial Provision in the Face of Globalization Changes

2020 ◽  
Vol 12 (515) ◽  
pp. 411-416
Author(s):  
O. V. Ptashchenko ◽  
Keyword(s):  
Internal Control ◽  
Structural Changes ◽  
Business Processes ◽  
Business Environment ◽  
High Tech ◽  
Labor Costs ◽  
The Face ◽  
Strategic Goals ◽  
Control Procedures ◽  
Oriented System

The article examines the main features of the risk-oriented system of financial provision, identifies the groups of risks arising in the business environment of the company, and focuses on the possibility of a risk-oriented system of financial provision in the context of globalization changes. Modern technologies play a crucial role in ensuring positive dynamics of social processes and causing structural changes in the social sphere. Recognition of high-techness as the basis of socio-economic development requires the introduction of modern management methods and instruments, including through the development of effective communication strategies for high-tech enterprises. The procedure for organizing internal control, including the duties and powers of the company’s divisions and employees, is determined by both the nature and the sphere of the company’s activities, the peculiarities of the management system. The basic principle should be: everyone be careful and compare labor costs with the results during the control. It must be noted that the organization and evaluation of the internal control system can be carried out with the participation of the company itself and/or external consultant. Control procedures are an integral part of the company’s business processes, and their goal is to exclude (reduce) the likelihood of risks falling into the scope of checkpoints and to link risk factors of business processes to the company’s strategic goals.

scholarly journals International business in the conditions of globalization

2021 ◽  
pp. 5-8
Author(s):  
Viktoriia HURALSKA ◽  
Yuliia PRODIUS ◽  
Serhii IZOTOV
Keyword(s):  
International Business ◽  
International Organizations ◽  
Large Scale ◽  
Structural Changes ◽  
Business Processes ◽  
Rapid Development ◽  
World Market ◽  
International Markets ◽  
Business Environment ◽  
Strategic Goals

Introduction. International business has big differences compared to business based within a certain country. The same principles which are used by national companies to ensure business processes in a particular country cannot be fully applied in international business. With this in mind, the study and analysis of the peculiarities of international business are necessary tasks. Many foreign and domestic scientists studied the process of development of international business in the context of globalization in their works, such as D. Johnson, K. Turner, S. Robock, S. Mocherny, S. Fomishin, EG Panchenko et. al. The purpose of the paper is to study the peculiarities of the development of international business in the context of globalization. Results. In recent years, the growth of international business has been impressive. This rapid development was influenced by two main reasons: the strategic goals of companies that contribute to the process of globalization, as well as the changing business environment. The processes of globalization and internationalization contribute to increased competition in international markets and cause certain structural changes in the external environment. Conclusion. Thus, globalization is a large-scale and multifaceted process that is developing quite rapidly. International business in the context of globalization is influenced by many factors, including: increasing the dependence of economies of different countries, the creation of transnational corporations, strengthening the competitiveness of the state in the world market, as well as the development of international institutions and membership in international organizations.

scholarly journals Human resources in the context of digitalization of agriculture

2020 ◽  
Vol 27 ◽  
pp. 00020
Author(s):  
Milyausha S. Faskhutdinova ◽  
Elmira F. Amirova ◽  
Ilnur N. Safiullin ◽  
Linar G. Ibragimov
Keyword(s):  
Agricultural Education ◽  
Production Efficiency ◽  
Business Processes ◽  
High Tech ◽  
New Employees ◽  
The Past ◽  
The Face ◽  
Digital Knowledge ◽  
Russian Education ◽  
Domestic Products

The article discusses the concept of digitalization of agriculture which should significantly change the face of the industry. In addition to increasing production efficiency and revenues, the authors propose attracting new employees and creating high-tech industries. Over time, this will allow establishing interaction with digitalization programs in other sectors, in particular with logistics, and creating platforms to support such integrated digital solutions that will popularize domestic products actively introduced into agriculture. One of the significant challenges facing implementation is its substantial demand for staff with relevant digital knowledge. Moreover, if financial injections help remove technical and technological obstacles to digitalization, then staffing the expected changes, especially on the planned scale, will require not only material support but also active organizational and methodological work. The international component may be the most important aspect of upgrading agricultural education in Russia. Over the past decade, some steps have been taken to meaningfully modernize vocational education, improve its quality and integrate Russian education into the international educational space. Despite the undeniable benefits, farmers are faced with the problems of integrating new systems into existing business processes, the lack of a comprehensive solution to their automation, the lack of staff competent in modern IT technologies. Addressing these issues will enable the transition of agriculture to the digital economy at an accelerated pace.

Fundamental approaches to the preparation of a risk-based internal audit work plan

2021 ◽  
pp. 61-72
Author(s):  
E.N. Kalamanova ◽  
N.A. Prodanova
Keyword(s):  
Professional Practice ◽  
Internal Control ◽  
Business Processes ◽  
Internal Audit ◽  
Business Environment ◽  
Regulatory Framework ◽  
International Standards ◽  
Internal Audit Function ◽  
Rapid Changes ◽  
Governance Practices

The article discusses the fundamental approaches to planning the work of internal audit based on a risk-based approach, taking into account the requirements of international auditing standards, the updated concept of three lines of defense, recommendations for the organization of risk management and internal control. The problems of the article are relevant in the conditions of rapid changes in the business environment, the emergence of new risks, the increasing complexity of business processes of organizations and the regulatory framework, the development of corporate governance practices, leading to the need for rapid adaptation of the internal audit function to the changes taking place. The material of the article is presented taking into account the current regulatory framework, international standards of auditing, International foundations of professional practice of internal audit.

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.

Developing a methodology of internal control of settlement transactions

2021 ◽  
Vol 22 ◽  
pp. 186-205
Author(s):  
Guzaliya S. KLYCHOVA ◽  
Alsu R. ZAKIROVA ◽  
Aigul' S. KLYCHOVA ◽  
Il'dus M. GIMADIEV
Keyword(s):  
Internal Control ◽  
Systems Approach ◽  
Control Process ◽  
Information Support ◽  
Credit Policy ◽  
Information Base ◽  
The Face ◽  
Control Procedures ◽  
Key Indicators

Subject. This article deals with the issues of internal control of economic entities' settlement operations in the face of increasing receivables and payables. This is influenced by various objective and subjective factors. Objectives. The article aims to improve the methodological support of internal control of settlement operations in order to improve the quality of checking and provide the information received to the company's management for operational and strategic management decisions. Methods. For the study, we used a systems approach, comparison, and the methods of data systemization and generalization. Results. The article presents certain developed working documents of internal control of settlement operations, verification of contracts and confirmation of the state of settlements with counterparties. The article also proposes to rate the reliability of receivables on the basis of a system of key indicators, during the internal control process. Conclusions and Relevance. The peculiarity of internal control of settlement operations is due to the variety of regulatory and information support of verification. The approaches developed can be used to define the information base, set targets and define control objectives, select control procedures rationally, and apply working documents in the internal control of settlement operations. The presented method of rating counterparties can be used to develop a credit policy to reduce the amount of doubtful debt and improve the efficiency of the company.

Developing a methodology of internal control of settlement transactions

2021 ◽  
Vol 22 (1) ◽  
pp. 94-114
Author(s):  
Guzaliya S. KLYCHOVA ◽  
Alsu R. ZAKIROVA ◽  
Aigul' S. KLYCHOVA ◽  
Il'dus M. GIMADIEV
Keyword(s):  
Internal Control ◽  
Systems Approach ◽  
Control Process ◽  
Information Support ◽  
Credit Policy ◽  
Information Base ◽  
The Face ◽  
Control Procedures ◽  
Key Indicators

Subject. This article deals with the issues of internal control of economic entities' settlement operations in the face of increasing receivables and payables. This is influenced by various objective and subjective factors. Objectives. The article aims to improve the methodological support of internal control of settlement operations in order to improve the quality of checking and provide the information received to the company's management for operational and strategic management decisions. Methods. For the study, we used a systems approach, comparison, and the methods of data systemization and generalization. Results. The article presents certain developed working documents of internal control of settlement operations, verification of contracts and confirmation of the state of settlements with counterparties. The article also proposes to rate the reliability of receivables on the basis of a system of key indicators, during the internal control process. Conclusions and Relevance. The peculiarity of internal control of settlement operations is due to the variety of regulatory and information support of verification. The approaches developed can be used to define the information base, set targets and define control objectives, select control procedures rationally, and apply working documents in the internal control of settlement operations. The presented method of rating counterparties can be used to develop a credit policy to reduce the amount of doubtful debt and improve the efficiency of the company.

scholarly journals A Formalized Assessment of the Scenario Development of the National Economy in the Context of the Penetration of Blockchain Technologies Into the Financial Sector of Transactions

2020 ◽  
Vol 11 (5) ◽  
pp. 199
Author(s):  
Marat Rashitovich Safiullin ◽  
Leonid Alekseevich Elshin ◽  
Alia Aidarovna Abdukaeva ◽  
Maxim Vladimirovich Savushkin
Keyword(s):  
Business Processes ◽  
Financial Sector ◽  
Business Environment ◽  
Economic Science ◽  
Financial Industry ◽  
Scenario Development ◽  
Urgent Task ◽  
The Face ◽  
To Come ◽  
Economic Growth Rates

In the coming years, blockchain technologies may become one of the breakthrough innovations in the financial sector of the economy, optimizing and simplifying transaction operations in a number of areas, and reducing their cost. In this regard, representatives of the financial industry should understand the possible consequences caused by the integration of the technologies under consideration in business processes. It is important to understand that the blockchain technologies have a very significant potential for transforming the established algorithms for the interaction of financial market participants, and be aware where are the boundaries of these changes, what new opportunities are presented by blockchain technologies and. Furthermore, finally, what are the expected consequences for the development of the financial sector itself and the other sectors of the national economic system associated with it. It should be noted that studies on blockchain technologies are very fragmented and, as a rule, have an insufficient level of both theoretical and empirical study. It seems relevant at the present stage of the development of economic science to conduct a systematic study aimed at finding and substantiating the areas of economic activity that are most susceptible to penetration of blockchain technologies. This involves a further justification of the possible consequences and using methods that are not so much qualitative but of quantitative analysis. In this regard, the process of resolving the issues posed in order to minimize risks for financial and other organizations in the face of the opportunities and threats to come under the pressure of the integration of blockchain platforms into the business environment becomes a vital and urgent task. This research is devoted to the solution of the questions posed. Without claiming to be complete and perfect concerning the proposed mechanisms to solve the tasks, the work, in fact, is an invitation to the scientific community to develop further a methodology for studying the influence of blockchain technologies on the dynamics and parameters of the formation of economic growth rates.

scholarly journals WEB APPLICATION FOR PROCESSING A LARGE AMOUNT OF DATA IN THE FIELD OF BUSINESS

2020 ◽  
Vol 69 (1) ◽  
pp. 319-322
Author(s):  
Zh.A. Zhanibek ◽  
◽  
G.T. Balakayeva ◽  
Keyword(s):  
Big Data ◽  
Information And Communication Technologies ◽  
Web Application ◽  
Business Processes ◽  
Communication Technologies ◽  
Business Environment ◽  
High Tech ◽  
Big Data Technologies ◽  
Information And Communication ◽  
Types Of Information

Big Data is one of the main drivers of the formation of information and communication technologies in modern conditions of high-tech production. The ever-growing capabilities of analyzing a large amount of information are currently significantly changing the business environment and the business processes that take place in it. The use of Big Data technologies can play a significant role in the innovative development of the digital economy in the near future. In today's world, where information is updated at an incredible speed and comes from a variety of sources, companies have to work with huge amounts of information and data. Big Data technologies allow you to collect, store, structure and analyze large amounts of information. This helps the management of the company to find patterns and causal relationships between various factors and use this advantage to obtain positive results. The article is devoted to the study of the basic concepts associated with Big Data, the basics and principles of working with methods and approaches of Big Data. Particular attention is paid to methods of processing these types of information using the data preprocessing method. This method was used for specific examples and the corresponding results were obtained.

scholarly journals BLOCK-MODULE MODEL OF AUDITING THE EFFICIENCY OF THE INTERNAL CONTROL SYSTEM

2021 ◽  
Vol 16 (1) ◽  
pp. 130-135
Author(s):  
Aksana Albekovna Turgaeva
Keyword(s):  
Control System ◽  
Internal Control ◽  
Business Processes ◽  
Insurance Companies ◽  
Insurance Company ◽  
New Approaches ◽  
Model Sets ◽  
Internal Control System ◽  
Control Procedures

The internal control system (ICS) organized in insurance companies in the context of the development of innovative processes and the digitalization of the economy does not always meet the requirements of the modern industry, which leads to the need to assess the effectiveness of the ICS and its compliance with new standards. This position involves the modernization of essential theoretical and methodological approaches to the formation and implementation of the audit model of the effectiveness of internal control of companies. The article is devoted to the issue of introducing new approaches to the performance audit of ICS in insurance companies, based on the construction of a block-modular scheme, which should be translated into certain modules. The block-modular scheme proposed by the author can be used to assess the ICS and identify the risks of insurance companies. The studies were based on the existing options for the methodological construction of assessing the effectiveness of the internal control and audit system. The presented model sets a benchmark in the field of risk assessment and verification of the internal control system. The effectiveness of the new approach in assessing the effectiveness of the ICS is evidenced by the fact that the description of the specifics of the activities of insurance companies, as well as the compilation of a register of possible risks for planning the audit of the effectiveness of the internal control system lead to remarkable results that allow truly assessing the effectiveness of the ICS. Areas and methods of audit, control procedures, relationships between business processes and relationships between employees, which were not noticed or were ranked as unimportant events, turn out to be key for the effective operation of the company and the conduct of internal control at a high professional level. The advantage of the block-modular model of the audit of the effectiveness of the ICS of the insurance company is that the correct and accurate route of the work of the controlling body is built, the control flags are correctly placed at all the stages of the audit, which implies that there are no delays at one stage or another and the identification of shortcomings in the work of the internal control. Today we are talking not at all about the quality of insurance services, but rather about the quality of the insurance business, its organization and timely adaptability to changes in the environment of the insured. In this regard, the development of the methodology for assessing the ICS of insurance companies requires new approaches and models

ORGANIZATION OF INTERNAL CONTROL IN A REMOTE WORK ENVIRONMENT

2020 ◽  
Vol 1 (9) ◽  
pp. 125-131
Author(s):  
NGUYEN THI HA MY ◽  
Keyword(s):  
Control System ◽  
Internal Control ◽  
Business Processes ◽  
Rapid Development ◽  
Remote Work ◽  
Use Of Technology ◽  
Internal Control System ◽  
Information And Communication ◽  
Control Procedures ◽  
The Russian Federation

With the rapid development and widespread use of technology, business processes are being transformed. One of the consequences of the implementation of technologies into the business is the partial transition to remote work, which made it necessary to reflect the corresponding changes in the internal control system (IC). The article is devoted to the analysis of the main shortcomings identified during the transition to the remote mode, in response to which measures are proposed to adapt the IC to the conditions of remote work. The following areas for improvement of the internal control system are identified: communication and comtrol during remote work, fraud and leakage of confidential information, failure of information systems. In response to the identified areas successful practical examples are analyzed and potential measures are proposed in the context of the elements identified in the COSO conceptual framework and methodological documents of the Ministry of Finance of the Russian Federation: control environment, risk assessment, internal control procedures, information and communication, internal control assessment.

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