INTERNAL CONTROL SISTEM: CONCEPTUAL FRAMEWORK
Under current business environment control as a management function is a critical part of the management system aimed at efficiency and success. Nowadays improvement of business management quality is based on the continuous monitoring of its' activities and management system optimization via implementation of effective internal control system. Consolidation of theoretical and practical elements in the internal control system research allows considering this category as a comprehensive complex of well-defined processes and operations regularized by internal requirements of the management system in order to ensure lean and effective business activity. Review of essence, purposes, structural elements, principals, requirements and challenges of the effective internal control system provides with an opportunity to represent this system in the form of interrelated components: organizational, methodological, regulating and informational. In each particular business inlined control activity is represented by the complicated multistage process. Understanding and observation of the conceptual framework comprising the totality of control areas applied to the real business development is the key factor of internal control system effectiveness.