The Study On The Improvement Of Internal Control Of Guangzhou Wine Company-Based On COSO

Have control are strong, without control are disorderly. Reinforcing the enterprise internal control and risk management of an enterprise is the only road and the sustainable security.Since May 2008, The Ministry of Finance, Securities Regulatory Commission, National Audit office, Banking Regulatory Commission, Insurance Regulatory Commissioncirc, five ministries have jointly issued the enterprise internal control basic norms, all kinds enterprise in our country since launching the internal control in the implementation and evaluation.Recently, more and more emphasis has been put on corporate internal control in China, and with the introduction gof the framework COSO, a complete system has been gradually established within enterprises.As one of the chief managers of Guangzhou wine company, I am responsible for internal control, auditing and management. As a state-owned company, Guangzhou wine company has long been practicing the "rule of man" rather than "rule of law", especially in the aspect of internal control. After my participation into the company,I led the whole course of establishing internal control system according to the framework COSO, and modified the system in terms of the company's operating conditions and circumstances. Although it's far from perfect, it lays solid foundation for the perfect.This paper adopts the method of monographic research. I focus on the flawed internal control system, unsmooth business process, poor professional quality of the staff and weak internal control department ect, and with the help of and the framework of COSO, I conduct a in-depth analysis into Guangzhou wine company, and put forward a appropriate internal control system for the company in order to improve the firm's profitability.Based on my knowledge collected in my three-year post-graduate study and seven-year work experience as a worker responsible for internal auditing and control, I advocate that the company should set up its internal control system with the framework COSO as a model. This suggestion not only go with the requirement of the framework COSO, but also facilitate the work of internal controller.I sum up the internal control system which is based on the three-leveled evaluation system according to the framework of COSO, and the corresponding guarantee methods for the future success of Guangzhou Wine Company.