On May 14, a round table “An Effective Internal Control System as a Condition for Achieving Goals” was held as part of ATOMEXPO-2018 in Sochi.
The round table was in the format of exchange of views; it’s participants included Roman Artyukhin, Head of the Federal Treasury, Sergey Romanov, Director of Budget Methodology and Financial accounting in the state sector at the RF Ministry of Finance, Head of Moscow’s Internal Audit Department, Yevgeniy Danchikov, Head, General Accounting Office of the City of Moscow, Aleksandr Loktev, Head of Internal Audit and Chief Inspector at Rostatom, and others. Anna Davydova and Yelena Yegorova, partners of such leading consulting companies as RWC and EY moderated the round table.
Participants discussed the operating effectiveness criteria of internal control systems. In particular, they discussed the barriers impeding the development of an internal control system and its utility for the clients (as business partners who share responsibility for risks). The experts also noted the development trends of internal control services and defined them as implementation of the principle of sufficiency, a transition to digital compliance, and adaptation to the requirements in the client countries. An aobjective of aiming the internal control systems at achieving corporate transparency can be viewed as a consolidated assessmenbt by the round table participants.