Intracompany Financial Control

Ovsyannikov Lev N. ()
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Ovsyannikov Lev N.: Budget and Treasury Academy of the Ministry of Finance of the Russian Federation

Finansovyj žhurnal — Financial Journal, 2010, issue 3, 137-146

Abstract: Consistent internal financial control contributes to better performance of the company management. There is no regulation that stipulates that such type of control measures is mandatory for use in the Russian Federation. Many organizations have no intracompany financial control departments and the lack of such bodies undermines the financial discipline. The article author examines the legal basis of the internal financial control bodies’ operations in the state-funded organizations and business companies and describes why it is necessary to pass a Federal law on internal financial control.

Keywords: internal financial control; a company; control environment; specifics of the legal basis; Federal law (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Date: 2010
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