DEVELOPMENT OF CRITERIA FOR EVALUATING THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEMS IN MODERN CONDITIONS
Authors:   Higher School of Production Management Federal State Autonomous Educational Institution of Higher Education “Peter the Great St. Petersburg Polytechnic University”, St. Petersburg, Russia, Kovalyshyn Roman V. ,   RKS-Energo LLC, St. Petersburg, Russia, Kalinina Olga V. ,   Higher School of Production Management Federal State Autonomous Educational Institution of Higher Education “Peter the Great St. Petersburg Polytechnic University”, St. Petersburg, Russia
Published: June 2024

The relevance of the study is due to the need to improve the effectiveness of internal control systems in a rapidly changing external environment and increasing requirements for transparency and reliability of the organization’s activities. The authors of the article emphasize the importance of the problems of determining the criteria for the effectiveness of internal control, which have become the object of research by many domestic and foreign scientists, due to the need to improve this tool for managing economic activity. The article examines the approaches of various authors to the definition of criteria for evaluating the effectiveness of internal control systems. Based on the analysis, interpretations of the content of the most frequently used criteria for evaluating the effectiveness of the internal control system (effectiveness, efficiency, cost-effectiveness, expediency, timeliness) are formulated. The author conducts a study of criteria defined by leading international professional organizations (COSO, the Basel Committee on Banking Supervision, the Institute of Internal Auditors, the Association of Audit and Control of Information Systems). According to the author, the criteria for the effectiveness of the internal control system should not only reflect the current state of the internal control system, but also serve as a basis for its further development and improvement. As a result of the study, a systematization of the criteria for the effectiveness of the internal control system was proposed, which includes five groups involving an assessment of the level of organization of the internal control system; the level of human resources involved in the internal control system; the level of information, technical, technological and financial support for the internal control system; the state of the environment of the internal control system; the level of quality of internal control measures control within the framework of the internal control system. The proposed systematization of the criteria for the effectiveness of the internal control system allows for a deeper understanding of the essence and content of internal control and can become an effective management tool and contribute to the achievement of the tasks set. The systematization proposed by the author of the study can serve as a basis for the development and improvement of internal control systems in organizations. The results of the study can be useful for managers and specialists in the field of risk management, audit and control, as well as for anyone interested in improving the efficiency of organizations.