International approaches to organizing an internal control system at an enterprise in the digital era
International approaches to organizing an internal control system at an enterprise in the digital era

Summary/Abstract: The purpose of the study is to analyze the existing approaches to the organization of the internal control system used to effectively support the activities of enterprises in foreign countries and determine its influence and possible application in domestic practice. The study found that all elements of the internal control system are closely interconnected and ensure the effective functioning of the enterprise, providing management with reliable and impartial information on its status for management decisions. Thus, international approaches to the organization of the internal control system at the enterprise are based on the assessment of the control environment of the enterprise along with risk assessment and monitoring. Approaches to the organization of internal control of some international companies specializing in industrial engineering and the basic principles that guide them in the implementation of internal control are identified. Among the areas of increasing the efficiency of the internal control system, the possibility of using innovative technologies related to the introduction of cloud technologies, artificial intelligence, robotization of automated processes, the use of drones or blockchains is highlighted. It has been revealed that most companies abroad are focused on corporate risk management. The study determined that the internal control system should cover and organize financial and management accounting, strategic project management, operations, personnel, general management and should take into account the goals and objectives of the company. The authors found that the system of internal control in private companies differs in conditions of fierce competition.

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