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The formation of an internal control system for both the company as a whole and for various accounting objects is an actual and necessary process that indicates the level of maturity of the business. The existence of developed organizational measures, methods and procedures allows in a preventive manner to focus management attention on risky areas of business processes and determine activities to optimize the performance of company to achieve its goals and strategy. In these conditions, a riskoriented approach in accounting becomes a priority for increasing the information openness of business as a part of the company's internal control system. In present work we examine the implementation of risk-based approach in financial investments accounting through the definition of a list of controls to reduce the risks of unreliable information in the financial statements and methodology for calculating the reserve for impairment of financial investments.

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