The Analysis of Introduction of ICS in Russia

Student: Davydov Oleg

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Final Grade: 8

Year of Graduation: 2019

Internal Control System (ICS) is a system that includes actions made to provide reliable financial reporting, effective performance and compliance with laws. ICS includes revealing, evaluation and management of the risks, which in turn should have a positive influence on the financial performance of the company. In this paper, I study the influence of the Matured Internal Control System on the firm’s value represented by Tobin’s Q and the influence on Return on Assets. Herewith, the indicator of the Matured Internal Control System is the participation of the company in Tax Monitoring by FTS of Russia. I have analyzed different financial indicators of 20 companies, 10 of which participate in Tax Monitoring, the period used is 2013-2018 quarterly. The results show that the ICS coefficient is significant for both dependent variables.

Full text (added June 13, 2019)

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