Research On Internal Control Optimization Of L Company Under The Value Chain Management Orientation

A series of accounting scandals in 1990 s accelerated the authoritative definition of internal control.The Committee of Sponsoring Organizations of the Treadway Commission issued a COSO report in 1992,which clarified the content composition and evaluation method of internal control.As a management means of enterprise,more and more scholars are devoting themselves to the study of internal control.It is hoped that by optimizing the internal control system and procedures of the enterprise,the operating efficiency of the enterprise will be improved.The internal control of enterprises is not only to achieve the purpose of compliance management,but also to gain more value-added through the construction of high-level internal control.As a value-added management tool,value chain management coincides with the new demand of internal control.It is of great significance to optimize the internal control of enterprises from the perspective of value chain.Because coal industry is the key area of supply-side structural reform and affected by the national energy-saving and environmental protection policy,the coal industry has undergone considerable changes.Many small and medium-sized coal mining enterprises have closed down.Excess capacity and inferior products have been gradually eliminated.The existing enterprises are larger in scale and higher in technology.Faced with the current macro-environment and the continuous growth of competitors in the same industry in the market,the competition among existing coal enterprises is becoming more and more fierce.Supply-side structural reform also affects the downstream operation of coal enterprises,such as steel and real estate industries,and increases the risk to enterprises by value chain.Internal control is beneficial to help enterprises manage risk.Creating value and optimizing enterprise internal control under the current background is an effective way to improve their competitive ability.Based on the theory of internal control and value chain management,this paper firstly analyses the influence of internal value chain and external value chain on the five elements of internal control,and then introduces L company.L company is a large coal enterprise.The diversification of enterprise industry and the structural reform of supply side affect the internal and external value chain of L company,and then put forward new requirements for the internal control of the company.Through the field investigation of the company,this paper discusses the actuality of internal control,and analyses the deficiencies with the theory of value chain management.In terms of control environment,there are problems of lack of value orientation,insufficient follow-up training of internal control and unsuitable performance appraisal for the current development of enterprises.In terms of risk assessment,there is a lack of perfect risk assessment system for high-risk business.In terms of control activities,there are defects in suppliers and customers,and problems in supplier management and customer credit evaluation.In terms of information and communication,information communication within the company is not smooth.In terms of supervision,there is a problem of insufficient supervision,and the same internal control problems may recur in different units.Then targeted optimization measures are put forward,including creating a value-oriented cultural atmosphere in the control environment,expanding the frequency and coverage of internal control training,strengthening the qualification review of suppliers and customers to reduce procurement and sales risks,periodically evaluating suppliers in control activities,establishing a reasonable elimination system and updating customer credit files timely,establishing multi-channel communication,giving full play to the role of internal websites,monitoring the whole value chain and combining the ministry of audit with external audit institutions.It is hoped that the research conclusion of this paper can improve the internal control level of L Company and enhance its value creation ability.