This article is devoted to the study of practical combination of the business processes' reengineering concept and the concept of value creation to increase the performance of the company and the possibility of an objective quantitative assessment of management decisions' quality. The article compares the management evaluation tools within the framework of business process reengineering and determines that the use of the VBM (Value Based Management) model will improve the results. The concept of creating value provides an objectively evaluation of the company's management actions and efforts aimed at maximizing the value of the company. The authors revealed the functional links of business processes when the product of an auxiliary process transfers its value to the final product of the main business process and, as a result, considering of every single business process as an independent business line, analyzing its profitability, efficiency, and "narrow" places that are not visible in the company as a whole, becomes possible. Therefore, the author's vision results in the following: business processes' reengineering is a powerful effective tool for introducing the concepts of cost management into practice. Being implemented within the framework of the reengineering project, the transformations fundamentally affect the performance of the entire company's management including its main component-financial management. Thus, the effectiveness of financial management while implementing a reengineering project can be objectively evaluated through the application of methods and tools developed within the framework of the value concept.

In the context of the global financial crisis and pandemic, issues related to risk management are of paramount importance, which requires the creation of an effective risk management system and disclosure of information regarding risks in the reporting of commercial organizations, focused on the information needs of stakeholders. This article is aimed at studying the existing practice of disclosing information regarding risks in the financial and non-financial statements of Russian companies. The study is based on the analysis of the current practice of disclosure of information regarding risks in Russia and abroad. Using the analysis of risk disclosure in 210 Russian commercial organizations, the study was aimed, foremost, at identifying factors influencing the format and quality of risk disclosure in financial and non-financial reporting, and secondly, at summarizing the practices of risk disclosure in integrated reporting in Russian organizations and the benefits of using integrated reporting. In this sense, the article contributes to the existing literature as an innovative study that determines the directions of development of the methodology for disclosing information regarding risks in integrated reporting in order to improve its quality and information content in accordance with the Concept of value Creation by the organization in combination with the Concept of Sustainable Development. For stakeholders, this study emphasizes the fact that, in the context of the risk disclosure format used, the quality of this information depends on a number of factors (organizational, technological, legal, cultural, economic). The study could be useful for managers and decision makers whose aim is to implement the Concept of Sustainable Development and the achievement of Sustainable Development Goals.

The paper reveals the significance of business entities' forecasting and strategic reporting. The reporting appears to be an essential source of information for highly efficient strategic management and profits receivable for internal users. Financial activity of Rostov and Krasnodar region's business entities of different incorporations and industries was taken as an object of current research. Authors developed specific classification of forecasting reporting forms and key performance indicators' framework depending on aims and objectives Authors proved strong need in development of strategic reporting methodology. Reporting drawn up according to the methodology allows generating informational support of analysis and control of business entities core strategies' implementing, including internal and external factors & risks' to increase the capital and firm value. The paper highlights strategy audit features as well, considered as related services according to the Federal Law on Auditing. Authors provide the term and stages of strategy audit. The research resulted in development of special strategic reporting software "Strategic, capital-value oriented reporting framework", special auditing software "Strategic business entities activity audit" coupled with detailed algorithm description.

The article is aimed at developing the methodology of internal control of equity, considered from the standpoint of accounting and economic approaches through the development of a descriptive structural and logical model of internal control, taking into account the characteristics of equity. In order to achieve this goal, it is necessary: first, to determine the features of equity capital as an object of internal control from the standpoint of accounting and economic approaches; second, to develop and justify a descriptive structural and logical model of internal control of equity. Technique for Internal Control of Company's Equity is designed through the development of a structural and logical model that takes into account the peculiarities of equity capital and considers it from the standpoint of both accounting and economic approaches based on accounting software. The results of the study can be implemented in the formation of an internal control system focused on creating value in commercial organizations. In particular, the developed structural and logical model allows us to systematize and improve such types of support within the internal control system as: regulatory, conceptual, organizational and methodological, information, technological, which contributes to a systematic approach to conducting internal control of equity and creates a basis for the development of its methods in the conditions of digital transformation and uncertainty of the external environment.

This paper focuses on the advanced perspectives for modern top-notch accounting that employs some leading processes that have their roots in the recent trends of digitalization. With the current boom of information and communication technologies (ICT), accounting embraced many novel tools and instruments that help to achieve its results faster and with a smaller margin of error. As accounting professionals continue to embrace digitalization of accounting, they help more companies achieve new growth and development perspectives. Innovations that blend together digitalization with the traditional financial products induce a revolution in accounting meaning that taxes are better reported and collected. Furthermore, cloud computing and modern management have a major impact on accounting and accountants and the way they are providing their services. All in all, it appears that the success of automation strategies and the emergence of the digital age depend to a large extent on human factors: individual employees and a holistic human resources strategy.