The role of the internal control system in the organization of foreign economic activity of the organization
In modern conditions, the activities of many companies turned out to be associated with foreign trade commercial transactions, implying the entry of domestic companies into the foreign market. A similar trend is associated with the fact that foreign economic activity of enterprises provides the state with resources, leading to a change in the cost and structural ratios of export and import operations. At the same time, organizations participating in foreign economic activity constantly face certain problems, for example, long terms of customs clearance, violations of settlement procedures, etc. In these conditions, the role of controlling is increasing, which is a complex system aimed at improving financial, personnel, and technological processes in order to achieve effective functioning of the organization as a whole. The purpose of the article is an analytical study of topical issues of organizing internal controlling of foreign economic activity of an economic entity. The significance of the topic of this research lies in the fact that today the use of the controlling mechanism is the implementation in practice of modern approaches to managing an organization. Its novelty lies in a systematic approach and focus on a long period of activity of an economic entity, as well as achieving the goals set for the business with the greatest return. Using a systematic approach, the authors substantiated the thesis of the need to use internal controlling systems for this type of activity in organizations participating in foreign economic activity, which made it possible to draw an objective conclusion about the main trends in the further development of this complex line of business. The content of the controlling system of the organization’s foreign economic activity at the present stage and the prospects for its development are shown. The results obtained can be used for inclusion in lecture and practical material in the preparation of specialists in the relevant economic specialties, as well as in the development of a strategy for the foreign economic activity of economic entities.