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International Accounting
 

On the assessment of the effectiveness of internal financial control in State-owned (municipal) institutions

Vol. 27, Iss. 4, APRIL 2024

Received: 7 March 2024

Received in revised form: 12 March 2024

Accepted: 21 March 2024

Available online: 15 April 2024

Subject Heading: CONTROL AND AUDIT

JEL Classification: Н83, M42

Pages: 425–443

https://doi.org/10.24891/ia.27.4.425

Natal'ya E. SPIRIDONOVA Voronezh State University (VSU), Voronezh, Russian Federation
spiridonova@vsu.ru

https://orcid.org/0000-0003-4492-8524

Subject. This article discusses the issues of assessing the effectiveness of control activities and systematizing the criteria for assessing the effectiveness for a specific type of control in order to improve and adapt it to changing conditions.
Objectives. The article aims to specify the composition and content of the criteria for assessing the effectiveness of internal financial control implemented by State-owned (municipal) institutions.
Methods. For the study, I used the methods of analysis, grouping, comparison, and generalization.
Results. Based on the analysis of the content of regulatory legal acts affecting various aspects of the effectiveness of control, the article systematizes approaches to assessing the effectiveness of control activities, specifies the composition and content of the criteria for assessing the effectiveness of internal financial control implemented by State-owned (municipal) institutions, and highlights the distinctive characteristics of the criteria for assessing the effectiveness of external and internal financial control.
Conclusions. The article concludes that it is necessary to analyze an expanded set of criteria for assessing the effectiveness of internal financial control and focuses on the fact that when assessing the effectiveness of internal financial control, it is important to take into account the stages of the life cycle of control activities.

Keywords: effectiveness, budget-funded entity, autonomous institution, State-owned institution, control activities

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