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ЭКОНОМИЧЕСКИЕ НАУКИ
CORPORATE CONTROL IMPROVEMENT IN OIL COMPANIES Valeeva R.R.1, Yunusova I.R.2 Email: Valeeva675@scientifictext.ru
1Valeeva Regina Radikovna - Undergraduate;
2Yunusova Irina Rimovna - Candidate of Philological science, Assistant Professor, DEPARTMENT OF ACCOUNTING AND AUDIT, UFA STATE PETROLEUM TECHNOLOGICAL UNIVERSITY, UFA
Abstract: the article discusses theoretical issues about corporate control in oil companies, that is, what is the basis for improving internal corporate control and what tasks are for internal control, as well as issues of organization and improvement of corporate control and proposes an approach to the creation of an effective system of internal corporate control in oil companies. The introduction of innovative and progressive technologies in the management of the holding makes it mandatory to use promising management schemes, as well as to help integrate control with various aspects of management activities, such as the development of plans and budgets and management accounting indicators. Keywords: corporate control, oil company, effective system of internal corporate control, efficiency, audit committee.
СОВЕРШЕНСТВОВАНИЕ КОРПОРАТИВНОГО КОНТРОЛЯ В НЕФТЯНЫХ КОМПАНИЯХ Валеева Р.Р.1, Юнусова И.Р.2
1Валеева Регина Радиковна - магистрант;
2Юнусова Ирина Римовна - кандидат филологических наук, доцент,
кафедра бухгалтерского учета и аудита, Уфимский государственный нефтяной технический университет,
г. Уфа
Аннотация: в статье обсуждаются теоретические вопросы о корпоративном контроле в нефтяных компаниях, то есть что является основой для повышения внутреннего корпоративного контроля и какие задачи стоят для внутреннего контроля, а также вопросы организации и совершенствования корпоративного контроля и предлагается подход к созданию эффективной системы внутреннего корпоративного контроля в нефтяных компаниях. Внедрение инновационных и прогрессивных технологий в управление холдингом делает обязательным использование перспективных схем управления, а также поможет в интеграции контроля с разнообразными аспектами управленческой деятельности, такими как составление планов и бюджетов и показателей управленческого учета. Ключевые слова: корпоративный контроль, нефтяная компания, эффективная система внутреннего корпоративного контроля, эффективность, аудиторская комиссия.
UDC 334.045
Corporate control in its development has passed a rather long evolutionary path. The topic of corporate control has already begun to be considered in the XIX century by scientists such as F. Besta, C. Garrison [2].
The concept of corporate control refers to decision-making powers in corporations in matters of strategic planning, acquisitions and disposals, in matters of marketing, production or various kinds of financial decisions.
In the context of sanctions imposed on the Russian Federation by the United States and the EU, the problem of improving corporate control has become even more pressing, because there is currently a shortage of effective management solutions, so it is necessary to check all spheres of activity of the oil company, and especially to consider opportunities for improving financial efficiency.
The information basis for enhancing internal corporate control is the indicators of management accounting, verification of its values, establishment of plans and standards based on management reporting [3].
The main task of the internal control mechanism is to develop a unified structure of budget planning and management accounting, and it is necessary to establish dependence on the results of production of this unified structure, and the degree of decentralization of economic indicators by level of responsibility will also depend on the results obtained in the implementation of internal control.
Despite the breadth of its concept, internal controls ensure the achievement of objectives in terms of efficiency, reliability of financial reporting of compliance with the law and control of risks, through which all resources of the oil company can be directed, monitored and measured, it plays an important role in preventing fraud, protecting property, including intellectual property and business reputation.
Under effective internal corporate control, we generally assume that the organization will create reliable financial statements that comply with the legislation of the Russian Federation and international legislation.
Once the controls have been evaluated, they can be improved to make the business operation more efficient. For example, if manual control automation can reduce costs and improve transaction processing.
The Corporate Governance Code [1] provides for the establishment of a number of committees within the board of directors, such as:
- Corporate Governance Committee;
- Audit Committee;
- Strategy Committee;
- Committee on Personnel and Remuneration;
- Risk Committee.
The Audit Committee plays one of the most important roles, it has a certain status, which is its full independence, it reports only to the Board of Directors [4].
Internal corporate control can be improved by using internal methods such as:
1 Competent distribution of job responsibilities of employees. Ideally, the processing of cash, receipts, invoices, checks and bank reconciliation are better divided among different people. The connection of online payment services, also allows to exercise extended control over payments, can additionally authorize all persons who have the right to sign.
2 Limit access for users to the software. In general, oil companies use accounting and financial software, which allows users to edit, delete previous transactions. The review of invalid or remote accounting records and also any made corrections can play an important role in identification of violations.
3 Business owners can also add supervision to corporate internal controls. It is necessary as it is possible to study more carefully bank statements, payment registers, verifications with bank. Owners of business should make the priority by consideration of financial statements and understanding of trends and changes in financial data, to consider monthly, quarter fluctuations, differences between the budget and actual data.
4 To support their position, business owners, can analyze the reporting of competitors. Engaging an external accounting professional will help you understand better your financial data.
The quality of corporate control tends to decline, and corporate fraud remains high compared to developed countries.
In order to effectively implement internal corporate control tasks, it is necessary to carry out such types of control as organizational and technological control, economic control, financial control, marketing control and other types of control.
In modern times, in the Russian Federation, economic entities exercise corporate control in such forms as auditing and auditing.
Internal corporate control is encouraged by listed companies, as one of the main functions of internal control is to strengthen the effectiveness of external and internal reporting, it has to adapt to constantly changing risk profiles, so the internal control system needs to be evaluated on a periodic basis.
In Russian holdings, the system of internal control consists of internal normative and constituent documents, which control individual bodies within the structure.
If possible risks are identified, the management of the company may consider their importance, probability of their occurrence and various ways of managing them, for which purpose plans and forecasts may be drawn up, or risks may simply be ignored due to the sufficiently high cost of possible controls over these risks or for other reasons.
Thus, the introduction and continuous improvement of the corporate control system in the structures of oil companies will help to integrate control with various aspects of management activities, such as the development of plans and budgets and management accounting indicators. But there is a direct dependence of the organization 's expenses and profits on the introduction and improvement of control.
Such expenses as a rule include costs of training, software development, security systems from illegal access and others.
The proposed methods will reduce the risks of errors and unfair actions on the part of managers and other officials of the company.
References / Список литературы
1. Corporate Governance Code (recommended by the Bank of Russia Letter № 06-52/2463 of 10 April 2014 "On the Corporate Governance Code". [Electronic Resource]. URL: http://www.consultant.ru/document/cons_ doc_LAW_162007/ (date of access: 15.09.2017).
2. Information site disser Cat. [Electronic Resource]. URL: http://www.dissercat.com/content/sovershenstvovanie-sistemy-vnutrennego- 13 korporativnogo-finansovogo-kontrolya-na-predpriyatiya/ (date of access: 15.09.2017).
3. Schebrakova E.P. Theoretical and methodological aspects of internal control organization in the management system of the holding//Audit and financial analysis, 2013. № 4. Page 284.
4. Sharovatova E.A. Relationship of internal control and management accounting tools. [Electronic Resource]. URL: https://cyberleninka.ru/article/n/vzaimosvyaz-instrumentariya-vnutrennegokontrolya-i-upravlencheskogo-ucheta (date of access: 15.09.2017).
