Financial control: Evolution of the concept and modern challenges
https://doi.org/10.35854/1998-1627-2024-2-217-227
Abstract
Aim. To determine the directions of further research on the development of financial control in Russia.
Objectives. To reveal the content of financial control, its essence and features, including from the point of view of historical aspects of its formation; to determine the stages of development of financial control; to analyze modern problems and challenges facing the system of financial control.
Methods. The authors have studied specialized literature devoted to the topic under consideration. The research is based on the dialectical system approach, logical analysis, comparison, grouping, application of general scientific methods.
Results. The article reveals the content of financial control, its essence, including from the point of view of historical aspects of its formation. The key stages of financial control development are characterized, the analysis of modern problems and challenges arising in this system is carried out. On this basis, the directions of further development of financial control in Russia are determined.
Conclusions. The development of the financial control system at the corporate level is essential to ensure the efficiency of companies' activities. The need for monitoring and control is an integral part of a closed system of business activity. The ability of the company to timely respond to risks and predict potential changes, as well as the ability to promptly make management decisions can be attributed to one of the key aspects of effective entrepreneurial activity in modern economic conditions characterized by increased competition, growing pressure from sanctions, economic volatility, etc.
About the Authors
A. Yu. Rumyantseva
St. Petersburg University of Management Technologies and Economics
Russian Federation
Russian Federation
Anna Yu. Rumyantseva
PhD in Economics, Associate Professor, Associate Professor at the Department of International Finance and Accounting, Vice-Rector for Science and International Affairs
44A Lermontovskiy Ave., St. Petersburg 190020
A. L. Nogin
St. Petersburg University of Management Technologies and Economics
Russian Federation
Russian Federation
Andrey L. Nogin
postgraduate student at the Department of International Finance and Accounting
44A Lermontovskiy Ave., St. Petersburg 190020
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Review
For citations:
Rumyantseva A.Yu., Nogin A.L. Financial control: Evolution of the concept and modern challenges. Economics and Management. 2024;30(2):217-227. (In Russ.) https://doi.org/10.35854/1998-1627-2024-2-217-227
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