VERIFICATION OF INFORMATION ABOUT COUNTERPARTIES AS A TOOL FOR INTERNAL CONTROL OF CONTRACTUAL RELATIONS OF THE ORGANIZATION

Abstract

The article is devoted to the urgent problem of reducing the risks associated with contractual relations with counterparties. The main types of risks that can be identified when checking counterparties are considered - financial, tax, legal, reputational, commercial and operational. The authors substantiate the need for careful verification of counterparties before starting cooperation in order to minimize potential losses and negative consequences. In the article, the authors explore the cases of the construction and functioning of the Gazprom Pererabotka LLC risk management system, the assessment of counterparties by the Gazprom Mezhregiongaz LLC economic Security service and the Severstal Management JSC risk management system. In these cases, the integration of procedures for verifying information about counterparties into the internal control system of contractual relations is implemented. The possibilities of combining the business processes of counterparty verification and internal control are being considered. The authors aim to investigate the feasibility of integrating the counterparty verification process into the organization's internal control system and formulate potential advantages and disadvantages. Based on the results of the analysis, it is concluded that the introduction of formalized procedures for checking and monitoring counterparties within the framework of the internal control system will improve the overall effectiveness of risk management and protect the organization when certain conditions are met. The authors offer recommendations for solving the problems associated with the restructuring of the organization when combining business processes.