IMPLEMENTATION OF INTERNAL CONTROL IN ACCOUNTING POLICY

With growing competition, fast development and introduction of new technologies, progressing complexity of business projects, and enlarging business diversity, company management is becoming increasingly more complicated. Consequently, company internal control is becoming a more and more complicated task. Huge financial scandals of the end of the 20th century, such as Enron, WorldCom, Ahold, Parmalat, etc. made it obvious that companies without an internal control system are destined to die. A good company internal control system is one of the guarantees of effective company business. Research object – regulation of internal control measures when forming accounting policy. The urgency of analysing the accounting policy as a system of prevention control measures was substantiated. A system of prevention measures for organisational and technical aspects of financial accounting policy was brought forward. DOI: https://doi.org/10.15544/ssaf.2012.1