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Evaluation Of Internal Control Of Financial Reporting And Disclosure

Posted on:2006-06-15Degree:MasterType:Thesis
Country:ChinaCandidate:J YangFull Text:PDF
GTID:2206360152981078Subject:Accounting
Abstract/Summary:PDF Full Text Request
Recently, the series of business failure were exposed. The reliability of the financial statements was been paid more attention. This article that began with the relation of the financial statements reliability and internal control evaluation, illustrates internal control evaluation that should be established by management can achieve reliable financial statements effectively. The article introduces Sarbanes-Oxley Act that clarifies the merits and conception of the internal control evaluation over financial statements. Then the article also introduces the success of the internal control evaluation over financial statements in American. In addition, the article analyses the situation of internal control evaluation in our country. It not only introduces the situation of theory establishment, but also illustrates exposure of internal control by analyzing internal control information of 150 companies. The article found there are many weakness and deficiency in our internal control evaluation. Finally, it gives following suggestion to strength our internal control evaluation: 1.Corporate management should demonstrate the effectiveness of internal control over financial statements. 2.Management's assessment of the effectiveness of internal control should be attested by auditor.3.Indetified the duties of management and legislated law and criterion to prevent or detect fraud.4.Build Internal Control Committee and drawn guidance and principle about internal control evaluation. 5. Established framework and procedure to evaluate internal control over financial statements.
Keywords/Search Tags:Internal Control Evaluation over Financial Statements, Financial Statements Failure, Information Exposure
PDF Full Text Request
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