Financial Control of Organizations with State Participation Using the Example of VTB

Financial control in organizations with state participation plays a key role in ensuring stability, transparency and efficiency of their activities. Using the example of VTB Bank, one of the largest lenders in Russia, the main aspects of financial control are considered, including internal, external, preliminary and subsequent state financial control, implementation of information technology, risk management and compliance with regulatory requirements. VTB implements strict procedures for assessing the creditworthiness of borrowers, diversifies its loan portfolio and applies modern monitoring and risk management methods, which allows it to minimize financial losses and maintain a high level of financial stability. VTB's internal control system is aimed at achieving the bank's key goals, such as ensuring profitability, reliability of financial and management reporting, compliance with legislation and banking policies, as well as implementation of plans and internal procedures. External financial control is carried out by independent auditing companies and government regulators, which includes checking annual financial statements for compliance with international and Russian standards, as well as assessing the reliability of accounting. Effective financial risk management and strict control by internal and external authorities contribute to increased transparency and trust on the part of clients, investors and regulators, which strengthens VTB’s position in the financial market.