Proceedings of the 8th International Conference on Contemporary Problems in the Development of Economic, Financial and Credit Systems (DEFCS 2020)

Internal Control System in Credit Organizations

Authors
Majd Alnakoula
Corresponding Author
Majd Alnakoula
Available Online 17 December 2020.
DOI
https://doi.org/10.2991/aebmr.k.201215.001How to use a DOI?
Keywords
internal control, banking supervision, auditing, COSO framework
Abstract
Credit institutions should very carefully manage risks, constantly adapt to the competitive environment, and develop their activities daily. At the same time, they have to comply with certain rules of conduct, which are controlled by both external and internal control bodies. In order to more identify weaknesses or problem areas in their activities, credit institutions use a system of internal and external control. The article describes the features of these types of controls and how they can integrate. The paper considers the modern structure of COSO, which consists of several components: control environment, risk assessment, control activities, information, communication and monitoring. The need for it by Russian credit structures has been identified. It has been determined that credit institutions that use an internal control system quickly respond to change external environment conditions and easily increase their capital. In Russia, 10 large banks use COSO that maintain their leading positions in the domestic credit market.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Majd Alnakoula
PY  - 2020
DA  - 2020/12/17
TI  - Internal Control System in Credit Organizations
BT  - Proceedings of the 8th International Conference on Contemporary Problems in the Development of Economic, Financial and Credit Systems (DEFCS 2020)
PB  - Atlantis Press
SP  - 1
EP  - 4
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.201215.001
DO  - https://doi.org/10.2991/aebmr.k.201215.001
ID  - Alnakoula2020
ER  -