Research On The Internal Control System Of Listed Companies

Recently, frequent financial frauds of listed companies have caused severe economic loss for enterprises. One of the reasons for this is that internal control becomes invalid. Therefore, how to guide enterprises in perfecting internal control and enhancing risk management becomes the focus which theory circle and practice circle concern. China released Basic Internal Control Norms for Enterprises in2008and issued Corresponding Guide on Internal Control for Enterprises in2010so that the theoretical framework tends to pay attention to the content of risk management. However, in global financial crisis, many domestic enterprises that had been engaged in transactions of financial derivative products suffered great loss. This states that Chinese enterprise still have many deficiencies in the construction of risk-management oriented internal control.Reviewing the development of internal control at home and abroad, The research about internal control of foreign countries is more depth than ours,their research deserve Chinese people to study,using the statistical data of Shenzhen Exchange Stock in2011, it analyzes the limitations and problems of internal control in China, such as the monitoring mechanism is not perfect enough, the legal system has been perfected preliminarily, employees’opinions on internal control need to be enhanced, e information system and communication are not smooth enough as well as the internal control system led by risks hasn’t been popularized and established etc. Combining the case of CITIC Pacific, this thesis presents the severe loss caused by imperfect construction of internal control and slack implementation for enterprises, according to which the important enlightenment we get from the case is that we need construct an internal control system led by risks. The process, which is guided by theoretical framework, guaranteed by external monitoring mechanism and based on risk management as well as whose subject lies in the implementation of enterprises, is put forward for the construction of internal control system at enterprises.