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Assessing the Effectiveness of the Internal Control System of Russian Universities

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  • Larisa V. Iureva, Margarita S. Marfitsyna

Abstract

The article describes an innovative approach aimed at developing tools for assessing the effectiveness of the internal control system of Russian universities. The relevance of the study lies in the need to create effective measures to assess the internal control system of Russian universities. The purpose of the article is to develop effective tools for assessing the effectiveness of the internal control system of Russian universities based on regression analysis. The hypotheses of the article consist, first, in finding a close correlation between all independent indicators that reflect the main aspects of the activities of Russian universities and the dependent variable. Second, it is assumed that there is a correlation between the resulting and explanatory variables, the geographical location of the collected data, and their influence on the resulting models. Third, there is no influence of the indicator characterizing the year of the collected observation and the name of the object on the accuracy of the resulting models. During the study, 15 explanatory variables and one resulting variable were collected, characterizing income from all sources of universities. The object of the study is Russian universities, with the exception of their branches. The information base for this study is the results of monitoring the activities of Russian universities in 2018–2022. based on 3,264 observations, from which a population of 405 balanced observations was formed. Using the data collection method - parsing, as well as methods for assessing panel data and the quality of the obtained samples and methods for calculating models and standard errors, three regression models were formed, characterizing the influence of independent variables on the dependent one. As a result of the study, a toolkit was created to assess the effectiveness of the internal control system of Russian universities. Most indicators have a strong influence on the resulting variable and are closely correlated with the geographic location. However, three indicators were not included in the initial regression model as they were multicollinear with the explanatory indicators. Thus, only one of the three hypotheses was fully confirmed.

Suggested Citation

  • Larisa V. Iureva, Margarita S. Marfitsyna, 2024. "Assessing the Effectiveness of the Internal Control System of Russian Universities," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 23(2), pages 551-573.
    • Handle: RePEc:aiy:jnjaer:v:23:y:2024:i:2:p:551-573
    DOI: https://doi.org/10.15826/vestnik.2024.23.2.022
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    References listed on IDEAS

    as
    1. James H. Stock & Mark W. Watson, 2008. "Heteroskedasticity-Robust Standard Errors for Fixed Effects Panel Data Regression," Econometrica, Econometric Society, vol. 76(1), pages 155-174, January.
    2. Dhiaa Shamki & Thuraiya Amur Alhajri, 2017. "Factors Influence Internal Audit Effectiveness," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(10), pages 143-143, September.
    3. repec:eme:majpps:maj-10-2019-2444 is not listed on IDEAS
    4. Svitlana Levytska & Larysa Pershko & Liudmyla Akimova & Oleksandr Akimov & Konstantin Havrilenko & Oleksandr Kucherovskii, 2022. "A Risk-Oriented Approach in the System of Internal Auditing of the Subjects of Financial Monitoring," International Journal of Applied Economics, Finance and Accounting, Online Academic Press, vol. 14(2), pages 194-206.
    5. M.A. Yurevich, 2021. "Global Transformation of Higher Education: From Traditional to Entrepreneurial University," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(3), pages 560-581.
    6. repec:eme:maj000:maj-10-2019-2444 is not listed on IDEAS
    7. Yaser Mohd Hamshari & Haitham Yousef Ali & Mohammad Ahmad Alqam, 2021. "The Relationship of Professional Skepticism to the Risks of Auditing and Internal Control, and the Discovery of Fraud and Core Errors in the Financial Statements in Jordan," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 10, March.
    8. Prem Lal Joshi, 2021. "Which factors affect the internal audit effectiveness in India?," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 12(2), pages 01-13, May.
    9. Md Abdullah Omar & Kazuo Inaba, 2020. "Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-25, December.
    10. Steven DeSimone & Kevin Rich, 2019. "Determinants and Consequences of Internal Audit Functions within Colleges and Universities," Working Papers 1904, College of the Holy Cross, Department of Economics.
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    More about this item

    Keywords

    university; internal control system; performance efficiency; regression analysis; Hausman test; heteroscedasticity; autocorrelation.;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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