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Intracompany Financial Control

Author

Listed:
  • Ovsyannikov Lev N.

    (Budget and Treasury Academy of the Ministry of Finance of the Russian Federation)

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.

Suggested Citation

  • Ovsyannikov Lev N., 2010. "Intracompany Financial Control," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 137-146, July.
    • Handle: RePEc:fru:finjrn:100313:p:137-146
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    More about this item

    Keywords

    internal financial control; a company; control environment; specifics of the legal basis; Federal law;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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