| Summary: | The quality of internal financial control systems functioning in corporations is largely determined by the maturity of the instruments that provide accurate work of control systems. This thesis is absolutely valid for the new system monitoring tool of corporate finance – cross-checking. Application of cross-checking requires proper methodological basis. Thus, the aim of the article is to develop methodological basis for cross-checking used for corporate finance control. The methods of dialectics, system analysis, economic analysis, synthesis, heuristics have been used in the study. The proposed methodology of cross-financial control is a model of control actions commitment for comprehensive, holistic and integrated solution to emerging management challenges. This model includes six phases: search for problematic management objects; assigning of control points; selection of criteria for cross-checking; adoption of a control activities plan; conducting of cross-checking; assessment of the objects’ condition. Corporate finance management is the area for application of the results. The author concludes that the results obtained in the course of cross-financial control and interpreted into quantitative and qualitative indicators play the role of a launching pad for the adoption of integrated managerial solutions. Thanks to them, systematization of the existing problems and coordination of all the financial management subjects are simplified, adjustment of the objectives is clarified. In addition, these results have a significant impact on the accuracy of assessing the reliability of a corporation’s entire system of internal control carried out in the course of external auditing. At the end of the article, the author gives an example illustrating the practical value of the proposed methodology of cross-financial control and its influence on an auditor’s assessment of the reliability of the internal control system.
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