Identifying potential threats to economic security in a commercial organization

The article reveals methods of identifying potential threats to economic security of commercial organization, primarily the algorithm of express diagnostics of its financial and economic activities. The purpose of the study is to identify threats to economic security of commercial organization and to build an algorithm to eliminate them with the help of internal control tools. The objectives are to conduct a financial analysis of organization, to systematize main indicators subject to evaluation, to identify the most significant threats and, as a consequence, to develop measures to strengthen economic security of commercial organization. The methodology of the research consisted in generalizing existing internal control toolkit, as well as in developing recommendations to improve economic security of commercial organization. The internal control methodology developed by the authors and presented in the article to identify and eliminate threats to economic security of commercial organization differs from existing similar methods in that it supplements internal threats with a new specific type of threats, on the one hand, arising externally, and on the other hand – affecting commercial organization directly at the micro level. It has been proposed to eliminate such threats with the help of the internal control system by expanding its tools.

1. russian Federation. Decree of the President of the Russian Federation dated May 13, 2017, No. 208 “On the Strategy of Economic Security of the Russian Federation for the period up to 2030”. http://www.consultant.ru/document/cons_doc_LAW_216629/ (accessed 03.08.2023). (In Russian).

2. Senchagov V.K. (ed.). Economic security of Russia. General course: textbook. 6th ed. Moscow: BINOM. Laboratoriya znaniya; 2020. 818 p. (In Russian).

3. Federal State Statistics Service. Methodological recommendations for the analysis of financial and economic activity of organizations. http://www.consultant.ru/document/cons_doc_LAW_142116/ (accessed 03.08.2023). (In Russian).

4. Boronenkov S.A. Comprehensive financial analysis in enterprise management. Moscow: Infra-M; 2018. 512 p. (In Russian).

5. Zaikovskiy B.B., Kornienko M.V. Practices of application of methods of analysis of payment and financial stability of the organization. Social Sciences. 2020;4(19):16-24. (In Russian).

6. Lyubushin N.P. Economic analysis. 3rd ed., revised and enlarged. Moscow: UNITI-DANA; 2020. 574 p. (In Russian).

7. russian Federation. Information of the Ministry of Finance of the Russian Federation No. PZ-11/2013 “Organization and implementation by an economic entity of internal control over the facts of economic life, accounting and preparing accounting (financial) statements”. http://www.consultant.ru/document/cons_doc_LAW_156407/ (accessed 03.08.2023). (In Russian).

8. russian Federation. International Accounting Standard (IAS) 36 “Assets Impairment” (enacted in the Russian Federation by Order of the Ministry of Finance of the Russian Federation No. 217n dated December 28, 2015). http://www.consultant.ru/document/cons_doc_LAW_193674/ (accessed 03.08.2023).

9. Krytsina A.M. Development of internal control as an element of economic security of commercial enterprise. The Crimean Scientific Bulletin. 2021;2-3(14-15):46–56. (In Russian).