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Theoretical Framework of Internal Control

Author

Listed:
  • Yanina Melnychuk

    (Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine)

Abstract

Internal control when properly arranged can significantly increase efficiency of production and thereby competitiveness of the economic operator. At the same time organizational and methodological control methods are based on theory, which insight allows comprehensive approach to creation of the internal controls at the entity. The purpose of this article is to systematize theoretical basis of internal control that shall enable to develop the comprehensive approach to creation of internal controls at the entity. In order to identify the nature of internal control the author analyzed scientific approaches, systematized qualifying characteristics, clarified the purpose and the list of internal control subjects assessed the level of disclosure of the internal control nature in the national and international law, summarized methodological aspects of internal control. In the author's opinion, legislative recognition of 'internal control' shall make it possible to unify approaches arrangement and methodology thereof, facilitate better understanding of its purpose and objectives.

Suggested Citation

  • Yanina Melnychuk, 2016. "Theoretical Framework of Internal Control," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 132-139, December.
    • Handle: RePEc:iaf:journl:y:2016:i:4:p:132-139
    as

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    File URL: http://www.afj.org.ua/pdf/438-teoretichni-zasadi-vnutrishnogospodarskogo-kontrolyu.pdf
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    References listed on IDEAS

    as
    1. Lina Chudak, 2015. "Improvement of Internal Control in Fodder Production on the Basis of Chain of Values Application," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 136-141, September.
    2. Roman Voronko, 2015. "Meta-Strategies of the Internal Control Development within the Organization," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 101-108, June.
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      More about this item

      Keywords

      internal control; internal audit; classification; tasks of internal control; objects of internal control;
      All these keywords.

      JEL classification:

      • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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