Reliability Assessment of Counteragent in Electronic Cooperation Channels

Abstract

National economic security is interrelated with financial security of the business structures. When planning business activity, however, economic agents may not always be able to adequately assess the current level of financial security of potential foreign counterparts. This is due to an insufficient completeness and depth of external and internal data on the current situation in the microenvironment of potential counterpart enterprise, which are available to them, and also to an unpredictable degree of the impact its changes have on the performance of an enterprise’s internal mechanisms relevant to the occurrence of internal financial risks. This article describes the results of reviewing existing information systems and resources designed to assess the reliability of counterparts and states the reasons for the inadequacy of domestic information systems to assess the reliability of foreign counterparts. The authors made an attempt to develop the system of parameters to create an information product capable of providing all necessary information about a foreign counterpart to assess its reliability, which does not require substantial amount of time and money and uses electronic communication channels in a one-stop way.

Optimize the Choice of Counteragent Based on the Application of the COSO Internal Control Model

“…Financial statement check helps to reduce commercial risks of an enterprise and prevent financial losses. Recently we proposed an algorithm for detecting falsified accounting (financial) statements [14]. At operating level and statements preparation level an effective control system and continuous monitoring of the operating environment should be established for detecting falsifications.…”