Subject. Effective internal control system helps achieve sustainable development goals of Russian corporations. The introduction of integrated reporting into the practice of companies enables to obtain information about available units performing control functions, types and forms of control they use. In the study, we consider the case of companies of the energy industry that prepare and publish integrated reporting. Objectives. The aim is to develop analytical tools to identify the effectiveness of internal control and audit services, and how they fit the scale of enterprises. Methods. The study draws on general scientific methods of logical analysis, comparison, and the mean-value method. Results. Based on the analysis of publicly available integrated reporting of Russian energy companies, we unveil shortcomings in the organization of internal and external control, when confirming the reliability of published reports, find the dependence of types of control services on the scale of the enterprise, and reveal their indirect impact on return on assets. Conclusions. To increase the confidence of potential investors, it is recommended that CEOs evaluate reliability and validity of financial and non-financial information. When creating internal control and audit units, it is necessary to focus on the size of company's assets to avoid inefficient increase in the number of control units, duplication of their functions, and distraction of performers from achieving the goals of the organization.
Keywords: integrated reporting, internal control, audit, internal control effectiveness, industry analysis
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