+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






Finance and Credit

Internal control in credit institutions over receiving/providing gifts and invitations for business events and lunches with participation of employees

Vol. 28, Iss. 4, APRIL 2022

Received: 17 January 2022

Received in revised form: 14 February 2022

Accepted: 28 February 2022

Available online: 28 April 2022

Subject Heading: Banking

JEL Classification: G21, G32

Pages: 950–968


Yuliya S. EFREMOVA Internal Control Analyst, Moscow, Russian Federation


Subject. The article considers the process of organizing internal control over the provision/receipt of gifts and invitations to events with the participation of employees of credit institutions.
Objectives. The aim is to analyze the handling of gifts and/or invitations with the participation of employees as one of the functions of internal control unit of credit institutions.
Methods. The study employs general scientific techniques and methods, like logical analysis and synthesis, grouping, comparison, scientific abstraction, and other methods of scientific knowledge, my own professional experience in the banking sector, and provisions of Russian regulatory documents in the field of anti-corruption and provision/receipt of gifts in organizations.
Results. The paper examines the place of handling the process of receiving/providing gifts and invitations among the functions of the internal control unit of credit institutions, provides basic definitions, analyzes foundations and participants in this process, and gives illustrative practical examples. It reveals that the function of the internal control unit for handling gifts and/or invitations to business events with the participation of credit institution employees is very important in the light of direct impact of this process on corruption, reputational risks, and a possible conflict of interests.
Conclusions. The findings can be used in routine operations of credit institutions, as well as in scientific and teaching activities for disciplines Finance, Money Circulation and Credit, Internal Control and Audit, and Risk Management.

Keywords: risk-based internal control, anti-corruption, risk, bank, business event


  1. Efremova Yu.S. [Personal Conflict of Interests in credit institutions: Notion, management and possibilities for automation]. Bankovskoe delo = Banking, 2019, no. 9, pp. 60–64. (In Russ.)
  2. Karpunin V.I., Efremova Yu.S. [System paradigm of risk-oriented internal control in credit organization]. Vestnik Rossiiskogo ekonomicheskogo universiteta imeni G.V. Plekhanova = Vestnik of Plekhanov Russian University of Economics, 2020, vol. 17, no. 2, pp. 13–31. URL: Link (In Russ.)
  3. Kakovkina T.V. [The internal control system as a means of identifying the risks]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2014, no. 36, pp. 37–47. URL: Link (In Russ.)
  4. Pashkov R.V. [Monitoring of internal control system]. Bukhgalteriya i banki = Accounting and Banking, 2015, no. 1, pp. 40–49. (In Russ.)
  5. Pashkov R.V. [Internal control of banking risks]. Bankovskii biznes = Accounting and Banking, 2014, no. 4, pp. 41–53. (In Russ.)
  6. Pashkov R.V. [The concept of bank risk-oriented internal control development]. Bukhgalteriya i banki, 2015, no. 6, p. 21. URL: Link (In Russ.)
  7. Pashkov R., Yudenkov Yu. [Western COSO model in the system of Western internal control and risk-management models]. Bukhgalteriya i banki, 2016, no. 9, p. 34. URL: Link (In Russ.)
  8. Pashkov R., Yudenkov Yu. [The COSO three lines of defense concept]. Bukhgalteriya i banki, 2016, no. 8, p. 33. URL: Link (In Russ.)
  9. Pashkov R., Yudenkov Yu. [The Russian internal control models]. Bukhgalteriya i banki, 2016, no. 3. (In Russ.)
  10. Yanova Ya.Yu. [The concept of risk-oriented internal control is an ideal to strive for]. Vnutrennii kontrol' v kreditnoi organizatsii, 2014, no. 4. (In Russ.) URL: Link

View all articles of issue


ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 28, Iss. 4
April 2022