PECULIARTIES OF ARRANGEMENT AND FUNCTIONING OF INTERNAL CONTROL SYSTEM IN FOREIGN COUNTRIES

The relevance of the study of the features of the organization and functioning of internal control systems in foreign countries is due to the need to justify and implement in the practice of managing Russian organizations instruments that have proved their effectiveness in world practice. As enterprises develop and adapt to work in difficult economic conditions, the expectations of stakeholders from internal control also increase. The existing practice of functioning of internal control systems at Russian enterprises requires revision and adaptation to the conceptual directions of development proposed by the modern development of science, including foreign experience. The study presented in the article contains the results of a retrospective analysis of the formation of the internal control system in foreign countries, the connection between the methodology of internal control and the level of development of economic relations in society, the needs of internal and external users of accounting information is proved. Significant attention in the article is given to a comparative analysis of the works of T. Bell, R. Eschton, P. Marvik and other foreign authors, which allows us to reveal the internal problems of the implementation of control procedures at various stages of the development of the internal control system in foreign countries, which means to avoid them in the Russian reality. The article concludes that the potential implementation of an internal control system based on the “triangulation” methodology at Russian enterprises is possible. It is based on the use by subjects of internal control of several verification methods that allow obtaining reliable and mutually verifiable evidence of the presence (or absence) of violations. Attention is focused on the key role of professional judgment of subjects of internal control in organizing and conducting control procedures and the need for dynamic risk assessment ‑ as the most progressive directions in the development of modern internal control systems of foreign enterprises.

internal control, internal audit, risk assessment, methods of internal control, subjects of internal control monitoring, professional judgment of internal auditors, components of the internal control system, triangulation, risk assessment, ARM, COSO, ASFE.

Kolesnikova E. N. Peculiarties of arrangement and functioning of internal control system in foreign countries. Business. Education. Law, 2019, no. 4, pp. 93–97. DOI: 10.25683/VOLBI.2019.49.472.