Home  Journals  International Accounting  38(188) - 2011 October

Statement of internal control as a basis for the transition on MSFO: the problems and the ways of their decision

Available online: 25 October 2011

Subject Heading: ON THE WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

The western banks and stock exchanges often demand conformity of internal control to standards COSO or SOX for the public companies. At the same time many nonpublic companies, preparing the reporting under the International standards of the financial reporting, often don't reflect on perfection of internal control. When there is such necessity, internal control is reformed in an emergency mode. The system of internal control created thus prevents swindle, but company development as long time for its debugging from the point of view of conformity of corporate strategy of development is necessary brakes. In article the algorithm of stage-by-stage statement of internal control from the very beginning of company development is offered. The complex research including more of 50 enterprises on which basis the basic lacks of systems of internal control of the Russian companies are revealed is conducted and ways of their decision are offered.

Keywords: internal control, COSO, SOX, company development, stages of statement of control, criteria of efficiency of the control, typical problems of the organization of control, controlling

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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