Research On Internal Audit Of Petrochina Under Sarbanes-oxley Act Influence

At the beginning of the 21st century, there have been a series of corporation frauds and accounting affairs in United States, which sounds the whole world an alarm. Then the Public Company Accounting and Investor Protection Act of 2002 passed, which we also call the Sarbanes-Oxley act (SOX). The act produced strong influence on the internal audit.Regarding the SOX influence on accounting and auditing, profession and regulatory boundary are conducted extensive study at home and abroad in recent years.Petrochina is a listed company in the United States and must abide by the Sarbanes-Oxley act. In accordance with the Section 404 of SOX,Petrochina internal audit'role has also changed. It is very important to strengthen the enterprise internal audit and change the position of the internal audit under SOX. Petrochina is a representative large state-owned enterprise in China. Research on SOX influence to Petrochina internal audit has a great practical significance.Around SOX closely, this paper analysis the changing of Petrochina Internal Audit, explore the developing trend and the enlightenment in corporate governance. At the same time, the study on SOX affect to the development of internal audit has important reference meanings to making the strategies for China internal audit reform. Through the comparative analysis, we can make the theory to be tested in practice. On the other hand the theory is effective in practice.