Subject. This article discusses the methods for assessing internal financial control, and it considers them as an element that ensures the effectiveness of control activities. Objectives. Based on the study of theoretical and methodological aspects of internal financial control assessment, the article aims to conduct a comparative analysis of common methods and develop recommendations for choosing the optimal approach. Methods. For the study, we used a systems analysis, generalization, classification, as well as a comparative analysis of risk assessment techniques, testing of control tools, and the expert method based on point scoring. Results. The article finds that each of the considered methods has its own advantages and limitations in practical application. It provides specific examples of implementing methodologies in the format of risk matrices and testing reports and justifies the need to integrate several methodologies to form a comprehensive approach to assessing internal financial control. Conclusions. To achieve high efficiency in control activities, it is necessary to implement a comprehensive approach to the assessment of internal financial control. This will help ensure not only the fulfillment of formal requirements, but also the increase of economic stability and security of the economic entity.
Keywords: internal financial control, Risk Control Matrix, control testing methodology, expert assessment
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