The article is divided into two parts “Classification of Financial Control and Audit in the Russian Federation” and “Standardization of Financial Control and Audit in the Russian Federation”. The first part of the article proposes a classification of financial control types in the Russian Federation by sectors of economy (public and corporate). The analysis of the laws and regulations of the Russian Federation permits the author to single out objects, subjects and elements of all financial control types in the commercial sector. The article reviews different viewpoints on interpreting such notions as “corporate financial internal control”, “internal management control”, “internal audit” and substantiates the special position and features of external audit in the national system of financial control. The second part of the article provides a classification of standards of public financial control developed by International Organization of Supreme Audit Institutions (INTOSAI) by how detailed they are. It analyses to what extent these standards are implemented in Russia and reviews the key international standards on the models of internal control in a company (COSO, COBIT, ITIL, etc.). In addition the author offers a classification of standards of auditing, provides a review of international audit standards and the evolution of national audit standards in the Russian Federation and finally describes the standards on the activity of self regulatory organizations of auditors and corporate internal audit standards.

Under conditions of high macro- and micro-economic risks in order to achieve strategic public priorities the development of auditing activity in the Russian Federation requires the following: increase of the social value of auditing and audit profession; improvement in audit quality through application of International Standards on Auditing; refinement of certification exam to comply with the International Education Standards for Auditors and international recognition of this exam. The article discusses the ways to improve the methodological support of the auditor certification exam to take into account the gradual transition from the “knowledge checking” model to “competence checking” model, and the necessity to harmonize it with the foreign professional certifications, based on the international education standards in this sphere.

This article substantiates the role of strategic analysis in ensuring long-term sustainability of a business entity. It singles out the assessment of resource potential which aligns the characteristic features of an enterprise with such indicators as level of demand and competition at the market, availability of suppliers, customers, financial and other intermediaries as a the key object of study in strategic analysis. The authors show that the effective use of the resource potential of an entity depends on the level of mobilization of all reserves available. The article analyses the approaches to the study of reserves described in papers published by G. A. Prudenskiy, S. K. Tatur, S. B. Barngolc, M. I. Bakanov, V. I. Ganshtak, L. E. Syrkin-Shklovskiy, M. V. Melnik, I. Ya. Kasicskiy and others. The authors clarify the definition of economic activities reserves and consider them to be additional provisions necessary to ensure continuing operation and (or) more efficient use of resources with extra return. The paper examines in detail the options for classification of reserves, particular principles of their search, the information base for identification and valuation of reserves as well as methods to calculate them. Comparative characteristics of the major methods of reserves valuation: method of direct evaluation, method of comparison, deterministic factor analysis, correlation and regression analysis, value analysis, mathematical programming are provided. The authors prove that the above methods are mainly appropriate for calculation of production reserves. However, marketing reserves in modern conditions also call for careful consideration and thorough study because the share of expenses to promote products is growing and the competitiveness of these expenses in general expenses should be ensured. One more reason for this is targeted changes in a product program which result in changes not only in size and structure of the resource potential but also in legal form and structure of a business entity.

The article considers the forms of Research and Development activity when executing government orders and contracts; describes the key principles making the basis for detection, identification and assessment of R&D results obtained when executing government contracts and examines the principles of accounting in budgetary and autonomous institutions. It also explains the main reasons for little amount of intellectual property belonging to the Russian Federation. The author presents a generalized model of management of IP results life cycle in aviation and considers the stages of transition to innovative economy. The conclusion is drawn that innovative development of national enterprises is impossible without effective use of intellectual property and that R&D in defense intensively funded by State will allow to do proper and comprehensive accounting.

Information about sustainability activity of a corporation should be disclosed in different types of reporting (integrated, financial, etc.). The article describes the sustainability reporting as a part of integrated reporting using a business model which includes capital and other resources, business activity and an assessment of resource efficiency. The authors suppose that it is possible to evaluate the effectiveness of value creation process by establishing relationship between the internal and integrated reporting ratios, approved by authorized managers. The information about corporate environmental expenditure can be recorded in the account “Current expenses on environmental activities”. The authors have developed the reporting forms to disclose corporate environmental costs based on the typology of items and the effectiveness of productive capital.

The article discusses the concept of strategic analysis of sustainable development of enterprises, outlines the main problems of methodological support and practical use. The lack of a unified methodology and a plethora of tools are identified as the major obstacles at the present stage of development of this type of analysis. The particular example of the OJSC “Grid Company” illustrates a variant of the rational use of methods of assessing of the internal and external environment of an organization when conducting a strategic analysis. External environment, with which the company interacts, may have a significant negative impact, mainly due to the slowdown of the Russian economy in general and the consequential impact of sanctions. Among the factors of the internal environment the performance indicators that dominate are the ones that advocate its strengths with a high level of significance, such as market share, the quality of the services provided for power supply and technological connection services, staffing and capacity. There is also a set of tools provided in the article for the analysis of the main stakeholder groups. The main problems, that an experienced specialist may face when carrying out the strategic analysis on sustainable development of the enterprise are defined in the article.

Overhead costs are an obstacle between the customers and the executors of the state defense order. The problem of their reduction was repeatedly highlighted and considered, but, in the absence of a simple decision regarding this issue, it was never solved. In practice, the occurrence of overhead costs can be associated not only with individual cost centers, but also with a separate group of cost centers, and with the organization as a whole. This complicates the distribution of such costs, and with the simultaneous presence of military products and civil products in the structure of the company’s revenues, such distribution becomes practically impossible due to the strict requirements for keeping records of costs under the state defense order. The assessment of the legal framework for accounting of overhead costs has been carried out in the article, and the bottlenecks of its practical application have been analyzed. The nature of overhead costs, as well as the main directions of the solution to this problem have been formed, which require the necessity of the transformations inside the accounting system from the point of view of organizational and legal forms and accounting methods, as well as urgent changes in the state policy regarding the state defense order.

The article discusses the dynamics of the enterprises that are being opened or liquidated due to bankruptcy in Russia in 2010-2016. A detailed analysis of the changes and observed trends throughout the study period is conducted in the article. Statistical data show that the increase in bankruptcy rates in the country doubled over the last seven years, which in conjunction with the reduction in the number of businesses opened leads to a recession in the economy. The author provides statistics regarding the gain (loss) of companies during the study period with their division according to their sectoral structure. The leading industries - are trade and the management of real estate. Most companies that are accounted for the decline fall in the agricultural sector. The article presents the comments of the experts regarding the situation in the country, as well as the recommendations towards maintaining the solvency of enterprises in a crisis economy. The article describes how to minimize potential risks. The author presents the mechanism of coordination of business processes within the enterprise. An important role in the company is given to the internal control and continuous monitoring of external market changes.

The article essentially describes the essence of performance auditing in the framework of the evolution of the state financial control and its role in the transition to the program-target method of budget planning. Besides, we will consider the use of performance auditing in the implementation of State programmes of the Russian Federation, and denote our point of view, whether the auditing of State programs and performance efficiency auditing are synonyms. As a result, the authors have summarized the current state of performance auditing and expressed their point of view regarding the possible use of the specified kind of auditing in assessing the performance and its elements (economy, efficiency and effectiveness) of State (targeted) programmes. The authors have also revealed its significant benefits for the management of these programmes at different stages of development: from design to implementation.

The control over the expenditure and the accumulation of budget funds by institutions with a significant share of state capital is an important aspect, since these institutions, on the one hand, receive financing from the budgets of the Russian Federation, and, on the other hand, bring public benefits and incomes in corresponding budgets of different levels. The article considers such categories as object and subject of control, types of control, as well as the standards and the specifics of carrying out control activities. The basis for the study was a more detailed examination and the analysis of the implementation of financial control in public corporations, which are a clear example of institutions with state capital shares. As a result, the following conclusions were drawn. First, the existing mechanism and system of control over the activities of state corporations are complex in coordination, but effective and contributing to the effectiveness and usefulness of the existence of these institutions. In addition, it was revealed that the rationally built system of internal control brings success in the functioning of state corporations.