Importance The internal financial control, as an area of scientific knowledge, is closely linked to an economic theory, which serves as the general methodological framework. The article examines the impact of leading economic theories on the development of the theory and methodology of internal financial control. Objectives The article aims to determine the line of influence of three combined economic theories on the development of the theory and methodology of internal financial control: the neoclassical one (theories of value of money through time, risk/return tradeoff, cash flows, portfolio, optimal capital structure, and dividends); the institutional one (transaction cost theories, game theories, behavioral finance theories, theories of agency relations); the theory of post-industrial society (theories of asymmetric information, intellectual capital, innovation financial products). Methods In the article, I use the methods of dialectics, logical, systematic, structural and comparative analyses, synthesis, and generalization. I emphasize that the study of influence of the neoclassical theory of finance, institutional theory, and the theory of post-industrial society on the development of internal financial control permits to assert the complex and holistic nature of the general methodological principle. Application The scope of the results can be corporate finance management. Conclusions and Relevance I came to a conclusion that the integrated methodological procedures should address a single prerequisite for the study of the development prospects of internal financial control in corporations. This approach, due to its dialectical features, automatically denies the established point of view, which focus researchers at the choice of some single scientific trend (mainstream) and its recognition as the dominant one with respect to other theories.
Keywords: corporate finance, internal financial control, neoclassical finance theory, institutional theory, post-industrial society theory
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