The importance of internal control for agricultural organizations and ways to improve it

Abstract

The article reveals the important role and importance of internal control for agricultural organizations, its purpose and objectives are given. It is noted that the internal control system is a set of methods and techniques that ensure compliance with regulatory legal acts, the safety of assets, the timely reflection of business transactions in the accounting, prevention of abuse by staff, and the formation of reliable financial statements. The higher the level of organization of internal control, the lower the risk of material distortion of the data in the financial statements of agricultural organizations. At this stage of development, internal control is not only a verification of the accuracy of accounting, but also is a control function of management. In the process of its implementation, the risks of the organization and their consequences are assessed. The article focuses on the risks that distort the financial statements of the organization, and also provides ways to minimize them.