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Improving the receivables and payables internal control management

Vol. 22, Iss. 12, DECEMBER 2019

Received: 5 November 2019

Received in revised form: 21 November 2019

Accepted: 27 November 2019

Available online: 13 December 2019

Subject Heading: AUDIT ACTIVITY

JEL Classification: M41, M42

Pages: 1378–1391

https://doi.org/10.24891/ia.22.12.1378

Sungatullina L.B. Kazan (Volga Region) Federal University (KFU), Kazan, Republic of Tatarstan, Russian Federation
Lilia_sungat@mail.ru

https://orcid.org/0000-0001-5771-9938

Khanova L.I. Institute of Management, Economics and Finance of Kazan (Volga Region) Federal University (KFU), Kazan, Republic of Tatarstan, Russian Federation
khanova.1995@mail.ru

ORCID id: not available

Subject This article examines the methods of internal control management of the organization's main forms of indebtedness.
Objectives The article aims to explore modern technologies in the process of improving the arrangement and management of internal control of receivables and payables, as well as explore the key characteristics of this process.
Methods For the study, we used the methods of analysis and synthesis, induction and deduction, comparison, logical and system-based reasoning.
Results The article presents a methodology for assessing the integrity and fairness of counterparties, developed on the basis of special tools. For operational and high-quality control of the movement of receivables and payables, the article offers original forms of management accounting.
Conclusions and Relevance The article concludes that the improvement of the system of internal control of receivables and payables should be focused on the formation of comprehensive information on the status of settlements and obligations of the organization. Information generated through internal controls should meet the needs of all stakeholders and provide a basis for developing and making informed decisions to avoid negative consequences for the entity's economic activity. The results of the study can be applied in the practical activities of economic actors in the development of measures to organize internal control of receivables and payables.

Keywords: accounts receivable, accounts payable, internal control, internal audit, counterparties

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