Internal Audit of Estimated Reserves and Liabilities as a Diagnostic Method for Corporate Risks

DOI

10.2991/aebmr.k.200312.343How to use a DOI?

Abstract

Under the conditions of international economic and political instability, corporate risks exacerbate. Reserve funds and resources in the businesses on the basis of estimated reserves and liabilities are one of the risk management tools, that in their turn have quite a high level of variability as they largely depends on the current accounting policy and a professional opinion of an accountant. This influences significantly the development of financial indicators for commercial organisations, and serves as an additional corporate risk, Among others such as fraud. The conducted research explores the methodological toolkit of internal risk audit that is associated with estimated reserves and liabilities in commercial organisations. Scientific results are aimed at the creation of a corporate identification and control system for corporate risks with the help of estimated reserves and liabilities. Methodological recommendations on accrued expenditure allow to identify risks of inefficient costs, including fraud. The results of the research with empirical materials that were accumulated during the test of internal risk audit method associated with the creation of estimated reserves and liabilities in industrial organisations, audit companies, and in R&D at Plekhanov Russian University of Economics.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - N A Kazakova
AU  - E B Shuvalova
AU  - S S Chikurova
PY  - 2020
DA  - 2020/03/17
TI  - Internal Audit of Estimated Reserves and Liabilities as a Diagnostic Method for Corporate Risks
BT  - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)
PB  - Atlantis Press
SP  - 2467
EP  - 2472
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200312.343
DO  - 10.2991/aebmr.k.200312.343
ID  - Kazakova2020
ER  -