Importance The article discusses the concept of financial safety of businesses, indicators of its assessment and methods of internal control. Objectives The study aims to develop a risk-based approach to the analysis of company’s financial safety, metrics for its assessment based on the specifics of company's business. Methods The study rests on scholarly works, oil company Rosneft data, the combination of qualitative and quantitative analysis. Results We consider the interpretations of the financial safety concept by Russian scientists and offer our own view. Furthermore, we underpin the difference between economic and financial security, present an 'ideal' model of subordination of the service that is responsible for assessment and control of financial safety, offer a system of indicators to assess risks of financial safety based on company specifics, assess relevant risks of oil and gas company Rosneft and analyze the findings. Conclusions The proposed approach enables to take into account the company's specifics owing to the mechanism of flexible system of indicators, their ranking, and to generate an objective and reasonable indicator of the level of financial safety. The findings may be useful for economic entities to monitor and control their financial safety, to obtain information for making business decisions by investors, auditors, and other counterparties.
Keywords: analysis, diagnostics, financial safety, security, control
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