Financial stability matrix of state commercial organizations as a tool of internal and external control

Abstract

Importance: financial sustainability of state commercial organizations. Purpose: to study the financial sustainability of state commercial organizations as an object of internal and external financial control over the effectiveness of activities. Research design: state commercial organizations are created and operate to solve social problems of the state. In this regard, the main goals of such organizations are not to extract maximum profit from the economic activity. Nevertheless, being full-fledged participants in the market economy, they play a significant role in the economy of the state, providing over 50% of the country’s GDP. In this regard, the Russian Federation, as the owner (co-owner) of such organizations, is interested in ensuring and maintaining the financial sustainability of state commercial organizations. Results: the article examines the essential characteristics of financial sustainability and its use as a tool for assessing the effectiveness of the financial resources and capital used. The role of internal control and audit in maintaining the required level of financial stability is substantiated. A financial stability matrix is proposed, which is applicable to both internal and external control bodies over the effectiveness of state commercial organizations. The matrix includes quantitative and qualitative characteristics and can be applied to companies with state participation regardless of the industry in which they operate.