Monitoring the efficiency of organisation’s internal control and economic security system

Ageeva, Olga A.; Matytsyna, Yu. D.

doi:10.26425/1816-4277-2022-1-70-77

Cited by 3 publications

(1 citation statement)

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“…Принимая во внимание тот факт, что в организациях малого и среднего бизнеса наиболее частыми причинами слабой СВК для ненадежного и повторяемого уровней зрелости выступают низкоэффективный дизайн контрольной процедуры, оторванный от общей структуры бизнес-процесса, трансформации бизнеса и отсутствие регламентов по выполнению контрольных процедур, предлагается методика количественной и качественной оценки СВК с последующей оценкой уровня ее зрелости [14].…”

Section: обсуждение результатовunclassified

The model for assessing the maturity and effectiveness of the internal control system

Safonova,

Mamushkina

2023

Vektor nauki Tol'yattin. gos. univ., Ser. Ekon. upr.

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Small and medium-sized businesses do not pay due attention to the functional resources of the internal control system (ICS), which affects the effectiveness of management decisions. Economic entities that regularly use ICS assessment are able to achieve a higher level of control environment maturity by optimizing business processes. The purpose of the study is to formulate quantitative and qualitative criteria for assessing the level of internal control maturity allowing for its systematic monitoring in medium and small business organizations. As a part of this study, using the developed tests of controls, including a recommended set of indicators characterizing the maturity of the internal control system, the authors carried out a qualitative assessment of the existing internal control system and identified risk areas. The quantitative indicators proposed by the authors and analyzed over time provide a more objective measurable assessment of the effectiveness of the organization’s internal control system according to the five basic elements of the COSO model. The authors proposed to analyze the causes of deficiencies, determine the frequency of their occurrence and identify ineffective control procedures within business processes for internal control systems of different maturity levels. A conceptual model for assessing the maturity and effectiveness of the internal control system for small and medium-sized businesses has been developed. The model is based on quantitative and qualitative indicators, which allows assessing the internal control system and enables the management of organizations to analyze the effectiveness of the applied internal control procedures and make management decisions on their adjustment, thus minimizing financial, labor and resource costs. The use of the proposed unified control procedures, as well as monitoring the effectiveness of control procedures, makes it possible to timely identify entrepreneurial risks inherent in any business entity, which is impossible in the absence of a formalized control environment.

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Section: обсуждение результатовunclassified

The model for assessing the maturity and effectiveness of the internal control system

Safonova,

Mamushkina

2023

Vektor nauki Tol'yattin. gos. univ., Ser. Ekon. upr.

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Reporting that meets the needs of the owners of the organization

Tkachuk

2023

Putevoditelʹ predprinimatelâ

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The subject of the study is to find ways to improve the usefulness of accounting data for its owners. The article highlights the interpretation of the concept of «owner of the organization»: the owners of all units of property, only the holders of the right to vote; only shareholder. It is concluded that financial statements are both a mandatory and a voluntary source of information for transactions on the transfer of ownership of a share and share. The situations of using accounting data on a mandatory basis are highlighted: to calculate the actual value of a share when a participant leaves the company or is expelled from it, and on a voluntary basis: to determine the transaction price when buying and selling shares or shares when it is impossible to evaluate the enterprise as a business. The author proved that the principle of conservatism does not allow to calculate the adequate property value of a share or share according to the organization’s financial statements.It is concluded that the calculation of the actual value of the participant’s share should be based on the assessment of the value of the enterprise as a business. The necessity of harmonization of normative documents regulating the procedure for the functioning of legal entities and the procedure for the formation of financial statements is substantiated.

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Factors Influencing the Effectiveness of Internal Control in Joint Stock Commercial Banks in Thai Nguyen Province

Nguyen,

Duong

2024

RGSA

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Purpose: This research explores the factors influencing the effectiveness of internal control in joint stock commercial banks in Thai Nguyen province. Design/Methodology/Approach: Adopting a cross-sectional quantitative design, the study employed a bilingual questionnaire. It facilitated data collection via an offline in-person and online platform from a diverse set of professional respondents in Vietnam. The analysis utilized regression in SPSS, applied to a robust dataset of 230 valid observations, ensuring a representative understanding of the research phenomena within the unique sociocultural context. Findings: This research revealed a significant positive relationship between Control Activities (CA), Control Environment (CE), Information and Communication (I&C), Monitoring (MO), Risk Assessment (RA), Group benefit (GB), Goverment support (GOS) and the effectiveness of Internal Control (EIC). Research Limitations/Implications: Despite the rich insights, the study has limitations that future research can address. For instance, the study employed a cross-sectional design, limiting its ability to capture changes over time. Moreover, the research context was limited to Thainguyen a province in VIetnam, suggesting additional studies were needed in other cultural and economic contexts. Practical Implications: The study provides actionable insights for bank to enhance the effectiveness of Internal Control. Originality/Value: This study significantly contributes to the literature by exploring the intricate relationships among CA, CE, I&C, MO, RA, GB, GOS and EIC in an emerging economy context, providing a nuanced understanding of these dynamics.

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Monitoring the efficiency of organisation’s internal control and economic security system

Cited by 3 publications

References 0 publications

The model for assessing the maturity and effectiveness of the internal control system

The model for assessing the maturity and effectiveness of the internal control system

Reporting that meets the needs of the owners of the organization

Factors Influencing the Effectiveness of Internal Control in Joint Stock Commercial Banks in Thai Nguyen Province

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