International Business Management
ISSN: OnlineISSN: Print 1993-5250
Abstract
Improvement of internal control system is an ongoing process of substantiation and implementation of the most efficient forms, methods, means and ways of its creation and development; rationalization of its individual positions and sides, control and identifying of shortcomings on the basis of continuous monitoring and evaluation of internal control system compliance to internal and external conditions of economic agent functioning. High-quality level of formalization of economic agent activity is required for the efficient work of internal control. The larger economic agent and more complex its structure, the more significant impact on the result of its activity has the organizational framework. Activity formalization starts with the approval of the organizational framework of economic agent. Organizational framework is a security for efficient functions distribution between business subdivisions. Otherwise functional relations in the vertical control are built incorrectly; there are overlaps and gaps in the implementation of certain functions by services, inability to assign the responsibility for the result to specific persons. Performance of quality control is conducted by the analysis of economy agent management actions with the purpose of establishment and maintenance of the internal control. It is necessary to mention that internal control is an important part of management process for any manager.
How to cite this article:
Irina A. Slabinskaya, Iuliia A. Tkachenko, Denis V. Slabinskiy and Aleksandr A. Mitrokhin. Approaches to the Performance of Economic Agent Internal Control.
DOI: https://doi.org/10.36478/ibm.2015.1136.1140
URL: https://www.makhillpublications.co/view-article/1993-5250/ibm.2015.1136.1140