Modeling of interaction between shareholders and control bodies

Abstract


The article deals with the problem of organization of financial control procedures for the activities of a joint-stock company by the audit bodies. The development of effective verification mechanisms can significantly reduce the cost of conducting them and increase their effectiveness. One of the problems that arise in the study of such problems is the modeling of behavior of participants in the system of internal and external control. The solution of this problem is impossible without the use on a scientific basis of economic and mathematical models of financial control mechanisms, taking into account the economic relations of the subjects and the object of control, allowing to assess the costs of control and its effectiveness. The article examines the mechanism of interaction between shareholders and control bodies. Models describing this interaction have been developed, as well as the tasks of determining the vector of the planned task of inspections by control bodies have been formulated and solved. The parameters of the verification procedure are determined by the criterion of maximizing the economic effect of the center from conducting inspections by the control bodies. The model uses a multiplicative function of the economic effect of the center on the possession of information on each of the subjects of control. The members of the system are the audit commission, the board of directors and the audit organization. For each participant of the system, target functions are formulated, taking into account information about material remuneration and taking into account alternative income. The developed model is tested on numerical data on the cost of conducting inspections and on alternative income. The results of the calculations illustrate the behavior patterns of the system participants, in particular, the feasibility of paying the full cost of inspections by the center and the implementation of the inspection plan by the control bodies in the appropriate volume.


About the authors

Alina K. Davletova

Sterlitamak branch of the Bashkir State University

Author for correspondence.
Email: alina9008@inbox.ru
ORCID iD: 0000-0001-9798-6256

Russian Federation, 147, Gogol Street, Sterlitamak, Republic of Bashkortostan, 453100, Russian Federation.

senior lecturer of the Department of Accounting and Audit

Elena P. Rostova

Samara National Research University

Email: el_rostova@mail.ru
ORCID iD: 0000-0002-6432-6590

Russian Federation, 34, Moskovskoye shosse, Samara, 443086, Russian Federation.

 кандидат экономических наук, доцент, доцент кафедры математических методов в экономике

References

  1. Dolinskaya V.V. Corporate law: main provisions and trends. Moscow: Volters Kluver, 2006, 399 p. Available at: https://zahvat.ru/media/bookshelffile/original/33848.pdf. (In Russ.)
  2. Chernomordov L.I., Rykova A.P. Risk management – the basis of modern audit. In: Ivanyuta O.P. (Ed.) Social, humanitarian and economic and legal sciences: modern trends in a changing world: materials of the student international research and practical conference. Moscow, 2015, pp. 106–109. Available at: https://www.elibrary.ru/item.asp?id=25706576&pff=1. (In Russ.)
  3. Arzhenovskiy S.V., Sinyavskaya T.G., Bakhteyev A.V. The influence of experience on expert assessments: statistical analysis of the factors of propensity to the risk of material misstatement of financial statements. In: Statistics in the modern world: methods, models, tools: materials of the International research and practical conference. Rostov-on-Don, 2020, pp. 102–105. (In Russ.)
  4. Arzhenovskiy S.V., Sinyavskaya T.G., Bakhteyev A.V. Subjective factors of risk appetite of persons responsible for preparing financial statements: role in assessing audit risks. In: Development of Russian economy and its financial security in the face of modern challenges and threats: materials of the International research and practical online conference. Rostov-on-Don, 2020, pp. 94–98. Available at: https://rrefb2020.rsue.ru/static/
  5. documents/collection.pdf. (In Russ.)
  6. Rodionova N.K., Burmistrova A.A., Rodionova N.K., Kondrashova I.S. Problems of ensuring the economic security of small businesses. In: Burmistrova A.A. (Ed.) Global problems of modernization of the national economy: materials of the VIII International research and practical conference. Tambov, 2019, pp. 234–242. Available at: https://www.elibrary.ru/item.asp?id=37659469. (In Russ.)
  7. Dedova T.V., Putilov A.V. The relationship between accounting and economic security of an enterprise, the impact of risks on economic security. In: Endovitsky D.A., Korobeinikova L.S. (Eds.) Accounting, analytical and legal support for the economic security of a commercial organization: materials of the I International student research and practical conference. Voronezh: Voronezhskii gosudarstvennyi universitet, 2018, pp. 33–35. Available at: https://www.elibrary.ru/item.asp?id=35179210. (In Russ.)
  8. Chaykovskaya L.A., Mezentseva T.M., Rozhnova O.V., Melnik M.V., Yefimova O.V., Lesina T.V., Nikiforova Ye.V., Borovitskaya M.V., Shnayder O.V., Gordova M.A., Ustinova Ya.I., Dombrovskaya Ye.N., Druzhilovskaya T.Yu., Druzhilovskaya E.S., Kuzmin A.Yu., Palguyeva T.V., Bychkova S.M., Potapova N.V., Chipurenko Ye.V. et al. Information of financial and non-financial statements as a basis for strategic business decisions: accounting, control, analysis. Moscow: KnoRus, 2020, 228 p. (In Russ.)
  9. Naumova N.A., Shaposhnikov A.A., Ivashkevich V.B., Sannikova I.N., Bychkova S.M., Timoshenko S.A., Baranov P.P., Ustinova Ya.I., Tsygankov K.Yu., Zhukova T.V., Kovalev A.Ye., Usacheva O.V., Baranova I.V., Mel'nik M.V., Amanzholova B.A., Khomenko Ye.V., Maksimova G.V., Khayrullina M.V. Modern paradigm of accounting, audit analysis: moral and philosophical principles. Novosibirsk: Novosibirskii gosudarstvennyi tekhnicheskii universitet, 2020, 286 p. Available at: https://www.elibrary.ru/item.asp?id=44062770. (In Russ.)
  10. Montgomery R.H. Auditing. Theory and practice. New York: Ronald Press Co., 1912, 714 p. Available at: https://archive.org/details/auditingtheorypr0000mont/mode/2up.
  11. Weirich T.R., Pearson T.C., Churyk N.T. Accounting & Auditing Research: Tools & Strategies. Wiley,
  12. , 240 p. Available at: https://www.wiley.com/en-us/Accounting+and+Auditing+Research%3A+Tools+and+
  13. Strategies%2C+9th+Edition-p-9781119373629.
  14. Jeppesen K.K. The role of auditing in the fight against corruption. The British Accounting Review, 2019, vol. 51, no. 5, p. 100798. DOI: http://doi.org/10.1016/j.bar.2018.06.001.
  15. Songini L., Pistoni A.I. Accounting, auditing and control for sustainability. Management Accounting Research, 2012, vol. 23, no. 3, pp. 202–204. DOI: http://doi.org/10.1016/j.mar.2012.06.002.
  16. Federal Law dated April 22, 1996 № 39-FZ "Concerning the Securities Market". Available at: http://www.kremlin.ru/acts/bank/9249. (In Russ.)
  17. Article 57 of the Federal Law «Concerning the Central Bank of the Russian Federation (Bank of Russia)». Available at: http://www.consultant.ru/document/cons_doc_LAW_37570/39a57d83ec7814fb8a011535f8e583614a4a860c. (In Russ.)
  18. Article 24 of the Federal Law «Concerning Banks and Banking Activities». Available at: http://www.consultant.ru/document/cons_doc_LAW_5842/3e31efc380696dd195f4d9acf28a8f91fd11eba2. (In Russ.)
  19. Recommendations of the Basel Committee on Banking Supervision «The System of Internal Control in Banks: The Basics of Organization» (Basel Committee on Banking Supervision, Basel, September 1998). Vestnik Banka Rossii, 2001, no. 44–45. Available at: https://orioncom.ru/demo_bkb/npsndoc2/bazel_98.htm. (In Russ.)
  20. Davletova A.K., Balaeva A.Yu. Development of a control system for financial and economic activities of a joint stock company in case of misconduct of the board of directors. Economics: Yesterday, Today and Tomorrow, 2018, vol. 8, no. 10A, pp. 58–71. Available at: https://www.elibrary.ru/item.asp?id=37004867. (In Russ.)
  21. Davletova A.K., Balaeva A.Yu. The influence of unlawful behavior of the board of directors on the results of control over the financial and economic activities of a joint-stock company. Financial Economy, 2019, no. 1, p. 697–702. Available at: https://www.elibrary.ru/item.asp?id=36900032. (In Russ.)
  22. Arzhenovskiy S.V., Bahteev A.V., Sinyavskaya T.G. Behavioral characteristics of the audited organization management as determinants of the risk of material misstatement of financial statements. Auditor, 2020, vol. 6, no. 12, pp. 27–32. DOI: http://doi.org/10.12737/1998-0701-2020-27-32. (In Russ.)
  23. Khakimova A.K., Esipova O.VModel and method of control system over financial and economic activity of the industrial enterprise. Management of economic systems: electronic scientific journal, 2015, no. 4 (76), p. 48. Available at: http://uecs.ru/uecs-76-762015/item/3471-2015-04-29-11-19-29. (In Russ.)
  24. Khakimova A.K., Esipova O.V. Microeconomic modeling systems: making financial and economic management activities more transparent. Economics and Management, 2014, no. 10 (108), pp. 57–62. Available at: https://www.elibrary.ru/item.asp?id=22663189. (In Russ.)

Statistics

Views

Abstract - 10

PDF (Russian) - 1

Article Metrics

Metrics Loading ...

PlumX

Dimensions

Refbacks

  • There are currently no refbacks.

Copyright (c) 2021 Vestnik of Samara University. Economics and Management

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

This website uses cookies

You consent to our cookies if you continue to use our website.

About Cookies