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Finance and Credit
 

A new insight into the concept of risk-oriented internal control in lending institutions

Vol. 26, Iss. 3, MARCH 2020

Received: 11 February 2020

Received in revised form: 25 February 2020

Accepted: 11 March 2020

Available online: 30 March 2020

Subject Heading: Banking

JEL Classification: G21, G32

Pages: 580–589

https://doi.org/10.24891/fc.26.3.580

Efremova Yu.S. Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation (MGIMO University), Moscow, Russian Federation
juliasefremova@yandex.ru

https://orcid.org/0000-0002-8720-4852

Subject This article explores the concepts of Risk-Oriented Internal Control and Risk-Oriented Internal Control System in credit institutions.
Objectives The article aims to improve the concepts of Risk-Oriented Internal Control and Risk-Oriented Internal Control System in credit institutions on the basis of actual-to-date scientific research, applicable international and Russian regulatory documents on internal control, and current economic realities.
Methods For the study, I used the methods of logical analysis and synthesis, grouping, comparison, scientific abstraction, and other methods of scientific knowledge.
Results The article proposes improved definitions of Risk-Oriented Internal Control, Risk-Oriented Internal Control System and Banking Risk.
Relevance The results of the study can be used by Russian financial establishments when developing or improving the risk-oriented internal control system, as well as in research and teaching activities in the field of study of Finance, Money Circulation and Credit.

Keywords: risk-based internal control, credit organization, banking risk

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