Formation of due diligence in the digital economy
The article discusses the formation of due diligence in the digital economy. Due diligence is a collection of different activities aimed at building relationships in the context of the selection of different counterparties. In the process of selecting new partners, the organization independently assesses the area of responsibility and the risks that may arise when interacting with these partners. Due diligence is one of the ways to assess the situation with counterparties, and the organization has the right to independently develop assessment methods that are used in practice in the process of studying its business partners. Compile a dossier for each partner, using various sources of information, save all the collected information confirming the choice of a particular counterparty. As practice shows, tax authorities thoroughly review and study the business chain in order to understand the real merit of each link in this chain. Today, the tax authorities are stimulating businesses to make their chain shorter and more transparent. The Federal Tax Service offers businesses a variety of resources, including open sources of information, by which you can always independently analyze information on the counterparty’s debt, its lawsuits, and the ability to identify massive registration addresses. Using the information resource «Transparent Business», organizations can obtain the maximum amount of information about their potential partners before concluding a deal, thereby minimizing risks. In the context of the development of contractual relations, in order to exclude opportunistic behavior, it is necessary for organizations to think over a step-by-step algorithm for conducting due diligence, which should begin with the development and approval of a contractual work regulation in the organization, which clearly spells out the job descriptions of employees and their responsibility when they ignore due diligence when selection of the main contractors. Within the framework of this problem, the formation of contractual relations with so-called fly-by-night firms is of particular interest. Sometimes these firms are purposefully included in the chain of business transactions. One-day firms do not have economic independence, they do not submit tax reports and the identification of such firms is an important point in the process of forming the business reputation of an organization. To check such organizations, the Federal Tax Service has launched the service «Transparent business», «Check yourself and the counterparty», with the help of which you can investigate in detail any organization, including identifying fly-by-night companies. In a market economy, an organization constantly interacts in the market with partners, clients, therefore, maintaining a business reputation and image is a positive moment in the overall assessment of the organization’s activities.