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ИД «Финансы и кредит»






Economic Analysis: Theory and Practice

Applying the process approach in setting up the system of internal control in economic entities

Vol. 20, Iss. 12, DECEMBER 2021

Received: 21 October 2021

Received in revised form: 3 November 2021

Accepted: 13 November 2021

Available online: 27 December 2021


JEL Classification: D04, G02, M40

Pages: 2313–2323


Zhanna A. KEVORKOVA Financial University under Government of Russian Federation, Moscow, Russian Federation


Natal'ya G. SAPOZHNIKOVA Voronezh State University (VSU), Voronezh, Russian Federation


Subject. The article addresses the organization and implementation of process approach when setting up a system of internal control of an economic entity, which ensures the management of effectiveness of divisions’ activities.
Objectives. We aim at investigating the organization of the internal control system of an economic entity, based on its activities, accounting policies, classification of business processes, and risk identification.
Methods. The study rests on methods of theoretical generalization, structural grouping, logical analysis, as well as the analysis of scientific and practical literature and accounting and control practice.
Results. The analysis of practices revealed a number of problems in the implementation of the process approach in the accounting and control activities of economic entities, in particular, insufficient understanding and unpreparedness of management to implement the process approach, the lack of a system for regulating business processes, the lack of interconnection between the system of control indicators and the created business processes. It is advisable to divide the process of organizing the internal control system into a number of stages, i.e. the definition of activities, typology of business processes, risk identification, testing the internal control system’s quality.
Conclusions. The introduction of the process approach in organizing an internal control system involves the systematization of information, depending on the nature of the business process, requiring permanent updating. The emergence of non-standard situations makes it necessary to adjust the boundaries of business processes. The resources of accounting business processes are personnel, software, equipment, and other infrastructure elements.

Keywords: internal control, process approach, accounting, business process


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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

Journal current issue

Vol. 20, Iss. 12
December 2021