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ИД «Финансы и кредит»






International Accounting

Developing a methodology of internal control of settlement transactions

Vol. 24, Iss. 2, FEBRUARY 2021

Received: 14 December 2020

Received in revised form: 30 December 2020

Accepted: 21 January 2021

Available online: 14 February 2021

Subject Heading: CONTROL AND AUDIT

JEL Classification: М42

Pages: 186–205


Guzaliya S. KLYCHOVA Kazan State Agrarian University (Kazan SAU), Kazan, Republic of Tatarstan, Russian Federation


Alsu R. ZAKIROVA Kazan State Agrarian University (Kazan SAU), Kazan, Republic of Tatarstan, Russian Federation


Aigul' S. KLYCHOVA Kazan State Agrarian University (Kazan SAU), Kazan, Republic of Tatarstan, Russian Federation


Il'dus M. GIMADIEV Regional Service Center, Bank Tatarstan Branch of PAO Sberbank, Kazan, Republic of Tatarstan, Russian Federation


Subject. This article deals with the issues of internal control of economic entities' settlement operations in the face of increasing receivables and payables. This is influenced by various objective and subjective factors.
Objectives. The article aims to improve the methodological support of internal control of settlement operations in order to improve the quality of checking and provide the information received to the company's management for operational and strategic management decisions.
Methods. For the study, we used a systems approach, comparison, and the methods of data systemization and generalization.
Results. The article presents certain developed working documents of internal control of settlement operations, verification of contracts and confirmation of the state of settlements with counterparties. The article also proposes to rate the reliability of receivables on the basis of a system of key indicators, during the internal control process.
Conclusions and Relevance. The peculiarity of internal control of settlement operations is due to the variety of regulatory and information support of verification. The approaches developed can be used to define the information base, set targets and define control objectives, select control procedures rationally, and apply working documents in the internal control of settlement operations. The presented method of rating counterparties can be used to develop a credit policy to reduce the amount of doubtful debt and improve the efficiency of the company.

Keywords: internal control, settlements, receivables, payables, counterparties, payment operations


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Vol. 24, Iss. 2
February 2021