FEATURES ENSURING FINANCIAL CONTROL IN A COMMERCIAL BANK: RUSSIAN AND FOREIGN EXPERIENCE
Current global trends in financial management and in banking in particular are demonstrating a gradual shift in focus from remote external financial control over bank’s operations to more internal risk-oriented financial control. Against this background, there is a fundamental change in organization of financial control in commercial banks, associated with the implementation of international norms and standards as well as Russian Federation legislation compliance with these norms and standards.
In the context of rapid development and changes of nearly all technologies, the impacts from real and potential threats to internal and external environments, internal financial banking control is becoming increasingly important in ensuring growth of banks’ financial performance.
Thus, given the importance of the very institution of financial control in the banking sector for financial and economic stability of any state, the presence of problematic issues in this area necessitates further studies of the characteristics of financial control in a commercial bank stemming from the already accumulated Russian and foreign experience.
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International College Suan Sunandha
Rajabhat University, Bangkok, Thailand