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ИД «Финансы и кредит»






Digest Finance

Internal Control: Methodological Distinctions of Counterparty Creditworthiness Checks

Vol. 23, Iss. 4, DECEMBER 2018

Received: 3 August 2018

Received in revised form: 8 August 2018

Accepted: 10 August 2018

Available online: 24 December 2018


JEL Classification: М42

Pages: 403–410


Shatina E.N. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Kozmenkova S.V. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Frolova E.B. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Subject This article deals with the issues related to the methodology of client acceptance procedures within the internal control framework.
Objectives The article aims to develop methodological approaches to perform internal control when checking the counterparty creditworthiness.
Methods We used the methods of comparative analysis and systematization.
Results The article proposes a method for internal control when checking counterparties' financial reliability preceding the conclusion of a contract, including working papers of the controller, mitigating the business risk.
Conclusions and Relevance The proposed algorithm for counterparty creditworthiness checks and forms of working documents will help enterprises and entrepreneurs get information about contractors at the stage of contracting, which would reduce the default risk in the future. The findings can be applied in the theory and practice of internal and external control during counterparty creditworthiness checks, as well as in the master's degree educational process in the field of Economics and Economic Expert Analysis.

Keywords: internal control, accounts receivable, counterparty


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