Company’s fund internal control actual issues and directions for their solution

Shendryhorenko, Maryna and Шендригоренко, Марина Трохимівна and Шендригоренко, Марина Трофимовна and Shevchenko, Liubov and Шевченко, Любов Ярославівна and Шевченко, Любов Ярославовна and Geyer, Eleonora and Гейєр, Елеонора Станіславівна and Гейер, Элеонора Станиславовна (2020) Company’s fund internal control actual issues and directions for their solution. Торгівля і ринок України (№1(47)). pp. 88-96. ISSN 2079-4762

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Abstract

The purpose of the article is to determine the current issues of internal control of equity and directions of their solution. The following general scientific methods and techniques of cognition were used in the research process: theoretical generalization, analysis and synthesis, induction and deduction, grouping and classification of logical generalization, and comparative comparison. To clarify the economic essence of equity as an object of internal control (audit) used methods of theoretical generalization, grouping and comparison. To study the methodology of internal audit of equity employees of the internal audit department used the method of observation and specification. Proposals to improve the working documents of the internal auditor were developed using the systematization method. Variable author’s approaches to understanding the essence of the concept of «equity» are analyzed and its generalized definition is given. The list of characteristics inherent in equity as an indicator of property relations has been supplemented. It is substantiated that the internal economic control carried out by the head of the enterprise directly or through the bodies authorized by him in accordance with the statute provides for compliance with the relevant control measures, which were systematized in compliance with the relevant sequence. The list of information support of the process of checking the equity of the enterprise (company) is generalized and schematically given. When conducting an internal audit of equity components, its main directions are identified, indicating the control procedures that must be used by the internal auditor at the enterprise. Models of working documents of the internal auditor based on the results of checking the correctness of the formation, change and reflection in the accounting and financial reporting of the company’s equity have been developed. The practical use of the results of the study will increase the effectiveness of internal control and prevent violations.

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