Risk-based approach to counterparty reliability assessment in the economic security system of an organization

The article examines counterparty due diligence as an element of an organization’s economic security system. The study systematizes the provisions of Russian civil, tax and procurement legislation and the clarifications of the Federal Tax Service that form the legal basis for counterparty checks, as well as the criteria and information sources used to assess a counterparty. It is shown that formal verification, limited to collecting registration documents, ignores the significance of the transaction and fails to detect risks that emerge after the contract is concluded. A conceptual model of risk-based verification is proposed: a matrix that relates transaction significance to counterparty risk indicators and sets the depth and frequency of checks; a list of events that trigger an unscheduled review; an allocation of responsibilities among departments; and the structure of an internal regulation. The application of the model is illustrated with a published case. The model is conceptual; its empirical validation is a direction for further research.