Nosov Magnitogorsk State Technical University (Magnitogorsk, Russia):

V. M. Kolokoltsev, Dr. Eng., Prof., President, e-mail: kwm@magtu.ru
T. V. Kozlova, Cand. Eng., Associate Prof., Head of Dept. of Book Accounting and Economical Analysis, e-mail: twkozlova@mail.ru
E. S. Zambrzhitskaya, Cand. Eng., Associate Prof., Dept. of Book Accounting and Economical Analysis, e-mail: jenia-v@yandex.ru
K. N. Vdovin, Dr. Eng., Prof., Dept of Foundry Production and Material Processing, e-mail: vdovin@magtu.ru

In corporations of metallurgical industry, the internal control system (ICS) becomes at the same time both the object of management and its instrument, which is due to its essence in modern conditions, and is not always implemented in practice. The problems of developing the internal control system are mainly due to the lack of a control environment, the lack of regulatory framework, methodological approaches to its implementation and maintenance, as well as the relative novelty of the task of introducing ICS. The purpose of our research and the subject of the article is to identify the problems of the development of the internal control system in corporations of the ferrous metallurgy of the Russian Federation at the present stage and search for mechanisms for its effective functioning. The article reveals the essence of the internal control system, the principles of monitoring controls, the specifi cs of the formation of the internal control system in ferrous metallurgy corporations, including shortcomings, as well as the stages of development of the internal control system and its promising direction for the next decade.

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