Financial Condition and Internal Control Deficiencies: Evidence From New York Counties

Kim, Youngsung; Matkin, David S. T.

doi:10.1111/pbaf.12246

Cited by 4 publications

(2 citation statements)

References 51 publications

(100 reference statements)

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“…Taking into account the above, improving and increasing the efficiency, quality, and reliability of accounting in a budgetary institution, in the context of developing an internal control system, by strengthening the managerial, control, and information functions, is an important task that requires indepth development and analysis in the process of reforming accounting in state institutions [7].…”

Section: )mentioning

confidence: 99%

Improvement of Internal Audit System in the Institutions of the Public Sector in Russia

Kosteva¹,

Kopytina²,

Павлюченко³

et al. 2020

Proceedings of the International Conference on Policies and Economics Measures for Agricultural Development (AgroDevEco 2020)

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The subject of the study is the problem of organizing internal control in budgetary institutions. The article discusses the theoretical issues of the formation of the system for internal financial control carried out by budgetary organizations of our country. The relevance of assessing the effectiveness of internal financial control in budgetary institutions is determined. The main shortcomings and problematic issues on the organization of internal financial control in the public sector are shown. The need to organize internal control in budgetary institutions does not raise any doubts, not only within the framework of the legislative obligations, but also because of the recognition of the need for effective supervision of the spending of budgetary funds. Control is the main independent source of information for identifying the causes of abuses arising in the process of managing public finances and state property, as well as an effective means of influencing decision-making to prevent certain violations. In such circumstances, the importance of internal control in budgetary institutions is constantly growing. With this in mind, the article reports the study of the features, content, and tools of internal control, as an element of preventing violations in the accounting of a budgetary institution. In the process of analysis, the relationship between the effectiveness of accounting systems and the internal control, which is inversely proportional, is examined. Special attention is also paid to the methods of internal control, self-control, control by the subordination level, control by the jurisdiction level, and the procedure for conducting joint control. The transition to the digital economy, the structural changes resulting from this, and the totality of theoretical, methodological, and practical issues related to the development of organizational and procedural support for internal financial audit entities in the public sector organizations are relevant and most interesting for scientific study. Over the past decade, a radical change in the organization of internal financial audits has taken place, associated with the implementation of international norms and standards in the legislation of the Russian Federation. In accordance with the international concept of state internal financial control, a distinction is made between the functions of internal control and internal audit.

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Section: )mentioning

confidence: 99%

Improvement of Internal Audit System in the Institutions of the Public Sector in Russia

Kosteva¹,

Kopytina²,

Павлюченко³

et al. 2020

Proceedings of the International Conference on Policies and Economics Measures for Agricultural Development (AgroDevEco 2020)

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“…The high risks and uncertainty contribute to the extremely high attention of investors to the startups' evaluation. The problem of asymmetric information, for the development of which the American scholars George Arkelof, Michael Spence and Joseph Stiglitz were awarded the Nobel Prize in 2001, remains practically not covered in the scientific literature [10][11][12]. This justifies additional attention to the formation of a conceptual financial and mathematical model for assessing startups' profitability so as to make a decision upon their financing by both financial institutions and private investors.…”

Section: Introductionmentioning

confidence: 99%

Developing a Conceptual Model for Analyzing and Forecasting Financial Performance of Small and Medium-Sized Businesses

Kochieva¹,

Sheina²,

Payusov³

et al. 2021

Proceedings of the Second Conference on Sustainable Development: Industrial Future of Territories (IFT 2021)

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Focusing on the trajectory of sustainable economic development requires structuring of the system of financial indicators so as to forecast and evaluate the effectiveness of businesses in the context of global challenges and an unstable internal and external environment. Small and medium-sized enterprises participating in investment projects are the basis for stable business growth and formation of the middle class. However, to forecast the financial results of start-up small and medium-sized businesses is rather difficult due to the lack of financial indicators in the planning period because of the short time of their activity, which requires development and methodological substantiation of the conceptual financial and mathematical model based on an optimization algorithm for assessing the performance of enterprises in the context of their division into start-up and operating small and medium-sized businesses.

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Relevant Issues of Building a State-of-the-Art Model of Internal Financial Control for Publicly Funded Institutions

Endovitsky

Korobeynikova

Кондрашова

et al. 2022

Strategies and Trends in Organizational and Project Management

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Financial Condition and Internal Control Deficiencies: Evidence From New York Counties

Cited by 4 publications

References 51 publications

Improvement of Internal Audit System in the Institutions of the Public Sector in Russia

Improvement of Internal Audit System in the Institutions of the Public Sector in Russia

Developing a Conceptual Model for Analyzing and Forecasting Financial Performance of Small and Medium-Sized Businesses

Relevant Issues of Building a State-of-the-Art Model of Internal Financial Control for Publicly Funded Institutions

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