Journals →  Chernye Metally →  2019 →  #12 →  Back

85th anniversary of Nosov Magnitogorsk State Technical University
ArticleName Internal control system in iron and steel corporations: development challenges and prospects
ArticleAuthor V. M. Kolokoltsvev, T. V. Kozlova, E. S. Zambrzhitskaya, K. N. Vdovin
ArticleAuthorData

Nosov Magnitogorsk State Technical University (Magnitogorsk, Russia):

V. M. Kolokoltsev, Dr. Eng., Prof., President, e-mail: kwm@magtu.ru
T. V. Kozlova, Cand. Eng., Associate Prof., Head of Dept. of Book Accounting and Economical Analysis, e-mail: twkozlova@mail.ru
E. S. Zambrzhitskaya, Cand. Eng., Associate Prof., Dept. of Book Accounting and Economical Analysis, e-mail: jenia-v@yandex.ru
K. N. Vdovin, Dr. Eng., Prof., Dept of Foundry Production and Material Processing, e-mail: vdovin@magtu.ru

Abstract

In corporations of metallurgical industry, the internal control system (ICS) becomes at the same time both the object of management and its instrument, which is due to its essence in modern conditions, and is not always implemented in practice. The problems of developing the internal control system are mainly due to the lack of a control environment, the lack of regulatory framework, methodological approaches to its implementation and maintenance, as well as the relative novelty of the task of introducing ICS. The purpose of our research and the subject of the article is to identify the problems of the development of the internal control system in corporations of the ferrous metallurgy of the Russian Federation at the present stage and search for mechanisms for its effective functioning. The article reveals the essence of the internal control system, the principles of monitoring controls, the specifi cs of the formation of the internal control system in ferrous metallurgy corporations, including shortcomings, as well as the stages of development of the internal control system and its promising direction for the next decade.

keywords Control, internal control system (ICS), development stages of internal control system, ICS of iron and steel industry, ICS monitoring, ICS digitalization
References

1. Bartkova H., Stefanovova Z. Internal control system of accounting in connection with corporate governance. Journal of International Scientific Publications: Economy & Business. 2014. Vol. 8. No. 1. pp. 1024–1034.
2. Alekseev Yu. V. A systematic approach as the basis for creating an internal control system. Ekonomicheskie nauki. 2012. No. 88. pp. 96–99.
3. Kakovkina T. V. Internal audit in system of internal control of the organization: in collection: The First International Conference on Economic Sciences. «East West» Association for Advanced Studies and Higher Education GmbH, Vienna, Austria. 2014. pp. 3–7.
4. Kozlova T. V., Ukolova М. К. Monitoring as an integration element of the internal control system. Molodoy ucheny. 2016. No. 8. pp. 548–551.
5. Kerkhoff H. J. 2017 year as decisive period for steel industry. Chernye Metally. 2018. No. 4. pp. 63–69.
6. Kozlova T. V. Mechanism for assessing the competitiveness of a metallurgical company. Saint Petersburg: Izdatelstvo: Info-da. 2014. 96 p.
7. Koroleva N. V, Issues of control environment organization at an enterprise. Molodoy ucheny. 2013. No. 7. 187–189 pp.
8. Safonova M. F., Reznichenko D. S. Implementation of compliance technology in the system of internal control of tax costs. A collection of articles on the materials of the International scientific and practical conference of young scientists dedicated to the memory of Semenov A. A., the corresponding member of the Russian Academy of Agricultural Sciences “Factors of economic growth: world trends and Russian realities”. Krasnodar, KubGAU. 2017. pp. 319–327.
9. Travinska S. I. Risk assessment and management as the component of the internal control system of milk processing companies. European Journal of Economic Studies. 2013. No. 2(4). pp. 118–128.
10. Kozlova T. V., Zambrzhitskaya Е. S. The internal control system in the conceptual-categorical apparatus of modern research. Proceedings of the III All-Russian scientific-practical conference “Organization management, accounting and economic analysis: issues, challenges, development prospects.” Magnitogorsk. 2018. pp. 54–58.
11. Shubina Е. V. Internal control in enterprise information systems. Proceedings of the International Scientific and Practical Conference «Issues of education and science. Theoretical and practical aspects” (25th of December 2015, Samara). Kirov. 2015. pp. 360–361.
12. Suyts V. P., Verenikin А. А. Monitoring the effectiveness of the internal control system. Organization of testing and evaluation. Audit i finansovyi analiz. 2016. No. 2. pp. 148–157.
13. Verenikin А. А. The methodology of testing and evaluation when monitoring the system of internal control of a business process. A collection of articles-presentations “Financial security of business and the state: issues and solutions”. FSBEI HE Plekhanov Russian University of Economics. Moscow, 2016. pp. 89–95.
14. Hwang S. S., Shin T., Han I. CRAS-CBR: internal control risk assessment system using case-based reasoning. Expert Systems. 2004. Vol. 21. pp. 22–33.
15. Voskanyan Е., Krivoshapka I. Digitalization of the economy: effect on management. Effektivnoe antikrizisnoe upravlenie. 2016. No. 6(99). pp. 6–11.

Language of full-text russian
Full content Buy
Back