Importance The quality of internal financial controls in corporations mainly depends on the maturity of tools, which control systems rely upon to implement their functions. This is true for a new tool of system control of corporate finance, and cross-control. Cross-control requires an appropriate methodological underpinning, being the subject of this article. Objectives The research devises the methodological framework for cross-control to manage corporate finance. Methods The research draws upon a combination of dialectics, systems analysis, economic analysis, synthesis, and heuristics. Results The proposed methodology for financial cross-control constitutes a model of controlling activities to comprehensively, integrally and consistently address arising managerial issues. The model implies six steps. Conclusions and Relevance Obtained from financial cross-control and converted into qualitative and quantitative indicators, the findings represent a starting point for comprehensive managerial decisions. They facilitate systematizing the existing problems, adjusting the goals, coordinating the performance of each party involved into financial control. The findings significantly influence an evaluation of the internal controls reliability and evaluation accuracy as part of external audits.
Terekhin V.I., Podgornova N.A. Effektivnost' modelirovaniya denezhnykh sredstv na rossiiskikh predpriyatiyakh [Effectiveness of cash modeling in the Russian corporations]. Finansovyi menedzhment = Financial Management, 2011, no. 2, pp. 23–31.
Baidina O.S., Baidin E.V. Finansovye riski: priroda i vzaimosvyaz' [Financial risks: the nature and interrelation]. Den'gi i kredit = Money and Credit, 2010, no. 7, pp. 29–32.
Brealey R., Myers S. Printsipy korporativnykh finansov [Principles of Corporate Finance]. Moscow, Olimp-Biznes Publ., 2012, 1008 p.
Serdyukova N.A. Teorema ob opisanii finansovykh riskov [The theorem of financial risks description]. Finansovyi zhurnal = Financial Journal, 2009, no. 2, pp. 139–146.
Serebryakova T.Yu. Riski organizatsii i vnutrennii ekonomicheskii kontrol': monografiya [Corporate risks and internal economic control: a monograph]. Moscow, INFRA-M Publ., 2012, 112 p.
Shapkin A.S., Shapkin V.A. Ekonomicheskie i finansovye riski. Otsenka, upravlenie, portfel' investitsii [Economic and financial risks. Assessment, management, investment portfolio]. Moscow, Dashkov i K Publ., 2012, 544 p.
Dolgopyatova T.G. Korporativnoe upravlenie v rossiiskikh kompaniyakh: rol' globalizatsii i krizisa [Corporate governance in Russian companies: globalization and crisis effects]. Voprosy Ekonomiki, 2009, no. 6, pp. 83–96.
Shokhin S.O. Problemy i perspektivy razvitiya finansovogo kontrolya v Rossiiskoi Federatsii [Challenges and prospects of financial control development in the Russian Federation]. Moscow, Finansy i statistika Publ., 1999, 350 p.
Zhukov V.N. Kontseptsiya i metodologiya sistemnogo finansovogo kontrolya v upravlenii korporatsiei [The concept and methodology of consistent financial control in corporate governance]. Moscow, INFRA-M Publ., 2015,186 p.
Sheremet A.D., Negashev E.V. Metodika finansovogo analiza deyatel'nosti kommercheskikh organizatsii [Methods for financial analysis of profit-making organizations]. Moscow, INFRA-M Publ., 2013, 208 p.
