Contemporary Aspects of Risk Assessment Control in Interaction with Contractors-State Subsidy Recipients

Vyzhitovich Alexander M.
1. Siberian Institute of Management – Branch of Russian Presidential Academy of National Economy and Public Administration under the President of the Russian Federation, Novosibirsk, Russian Federation
vam_70@mail.ru
Nasonova Anna A.
1. Novosibirsk Social Commercial Bank «Levoberezhny»
paa@nskbl.ru
Gvozdeva Alena S.
1. Siberian Institute of Management – Branch of Russian Presidential Academy of National Economy and Public Administration under the President of the Russian Federation, Novosibirsk, Russian Federation
alenag24@mail.ru
The material was received by the Editorial Board: 20/01/2019
Abstract 
With the development of business support  systems for enterprises, the analysis of the activities  of organizations recipients of state financial aid is becoming particularly relevant today.  The article analyzes the activities of organizations controlling risks in interaction with contractors with public funding. 
The article covers the features of obtaining state subsidies considering both positive factors affecting the development of enterprises and in the emergence of new risks for the budget and contractors involved in economic relations with the enterprises. This paper analyses the data on the return of subsidies by the enterprises within the individual state programs and the outcomes of judicial proceedings by the example of the Novosibirsk region. The aim of the study is to develop approaches and recommendations on implementation of external and internal control of risk assessment when interacting with counterparties-recipients of state subsidies.  The study formulates the issues and suggests possible solutions to forecast the results of deterioration in financial position of the counterparty due to repayment of subsidies and assess its impact on the fulfillment of obligations to pay off the accounts payable or other economic relations. The study reveals the features of business partnership with  a counterparty – a cluster actor – and the approaches to monitor and assess the risks of such cooperation, given the unfavorable developments on refunding the subsidies in case the conditions for its provision are violated. 

Keywords 
subsidy, risk, control, counterparty, cluster, analysis, financing 

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References: Vyzhitovich A. M., Nasonova A. A., Gvozdeva A. S., Gornaya A. A. Contemporary Aspects of Risk Assessment Control in Interaction with Contractors-State Subsidy Recipients . World of Economics and Management. 2019, vol. 19, no. 1. С. 26–39. DOI: 10.25205/2542-0429-2019-19-1-26-39