Verification of information about counterparties as an instrument of internal control of contractual relations of the organization

Abstract

The article about issues of the counterparty information verification as a tool for internal control of organizations. The authors consider the basic techniques and algorithms, which are currently used to verify the reliability of a potential counterparty, to evaluate the effectiveness of these techniques, offering alternative methodologies for verification. Moreover, they consider the salient points in the implementation of checks on the counterparty, since today there are some features to which the authors pay special attention. In the article they also reflect some of the legal gaps that occur during inspections of internal control and propose solutions to solve them, in order to ensure not only the economic security of each individual organization, but also the state as a whole.