Improving the methodology of internal control of financial statements as a tool for managing the activities of the organization

¹ Kazan State Agrarian University, 420015 Kazan, Russia
² Financial University under the Government of the Russian Federation, 125167 Moscow, Russia
³ Bashkir State Agrarian University, 450001 Ufa, Russia

^* Corresponding author: zakirovaar@mail.ru

Abstract

In modern conditions the issues of providing the management of the economic entity with timely and reliable information about the financial and economic activities of the organization become particularly important. The main source of such information is the internal control of the accounting financial statements. The study's goal is to provide methodological tools for internal control of accounting financial statements in order to better control measure design and implementation. The primary directions of internal control were specified within the framework of the research, and working papers of internal control were prepared to contribute to the improvement of audit technique. To improve the planning of the internal control of the accounting financial statements a working document is offered that allows to increase the efficiency of the control measures and to systematize the results of the control procedures in a timely manner. The identified differences between the data of financial reports and data of accounting registers allow to draw conclusions about the deviations that may arise when transferring indicators from accounting registers to the reporting form. The internal control papers presented enable for the systematization of the outcomes of control processes and the provision of information to the economic entity's management for management choices.