ESC
Clarivate

 
Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2019-06-20  |  Accepted: 2020-01-15  |  Published: 2020-03-30

Title

Assessment of the financial security of insurance companies in the organization of internal control


Abstract

The article is devoted to assessing the financial security of the activities of insurance companies as one of the stages in the implementation of all types of economic control and, in particular, internal control. The internal control of the business process connected with the assessment of financial security, with the assessment of risks in insurance companies at the present stage of economic development, is an urgent issue in the era of financial crises. Moreover, this area of internal control is not fully developed for practical use in insurance. The article provides an algorithm for assessing the financial security of an insurance company in internal control, and proposes a phased monitoring of the assessment of financial risks of an insurance company. Under the methodology of the study the following methods were taken: the methods of determinative factor analysis, an indicative method for determining the criteria for evaluating indicators. It is concluded that the need has arisen for using, as one of the sections of the methodology, the internal control of assessing the financial security of an insurance company. The result of the study was the development of an algorithm for conducting one of the sections of internal control using an assessment of the financial security of an insurance company. The practical significance of the article lies in the fact that conclusions and suggestions are aimed at developing modern economic control and contribute to real business optimization. A study conducted by the authors revealed that the new reality has changed the attitude towards the use of standard methods that do not take into account the particular functioning of companies, and requires the modernization of old ones and the introduction of new approaches to economic control methods.


Keywords

economic control, internal control, insurance company, financial security, risks, assessment


JEL classifications

M41 , M42 , M49 , G22


URI

http://jssidoi.org/jesi/article/518


DOI


Pages

2243-2254


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Turgaeva, Aksana A.
Astrakhan State Technical University, Astrakhan, Russian Federation http://www.astu.org
Articles by this author in: CrossRef |  Google Scholar

Kashirskaya, Liudmila V.
Financial University under the Government of the Russian Federation, Moscow, Russian Federation http://www.fa.ru
Articles by this author in: CrossRef |  Google Scholar

Zurnadzhyants, Yulia A.
Astrakhan State Medical University, Astrakhan, Russian Federation http://astgmu.ru
Articles by this author in: CrossRef |  Google Scholar

Latysheva, Olga A.
Altai State University, Barnaul, Russian Federation http://www.asu.ru
Articles by this author in: CrossRef |  Google Scholar

Pustokhina, Irina V.
Plekhanov Russian University of Economics, Moscow, Russian Federation http://www.rea.ru
Articles by this author in: CrossRef |  Google Scholar

Sevbitov, Andrei V.
I.M. Sechenov First Moscow State Medical University, Moscow, Russian Federation https://www.sechenov.ru
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

7


Number

3


Issue date

March 2020


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 3211  |  PDF downloads: 4152

References