Research On Internal Control Of TP Life Insurance Company Limited

With the collapse of Lehman Brothers occurred, General Motors filed for bankruptcy protection and’own finger’Events from the Ever bright Securities a series of major risk events, the effectiveness of internal control more and more people’s attention. In2010. the Ministry of Finance. Securities Regulatory Commission, the Audit Commission, China Banking Regulatory Commission, the China Insurance Regulatory Commission jointly issued’ General Principles of Organization Internal Control’and related guidelines, which stated the legal rules to the construction of internal control within organizations. However, there still remain some weaknesses among insurance companies in China. For instance, effectiveness of internal control is not that satisfactory, internal control structures are insufficient; moreover, many major control mechanisms are failed applying to operating procedures in companies.This paper combines case study and normative research method, giving a detailed introduction of the concept of internal control, developing stages and COSO report structure. It follows with a case study including both current situations and problems of internal control within organizations. Furthermore, a reason analysis is carried out covering environment controlling, internal control system and internal control evaluation. Finally, this paper puts forward some specific measurements to optimizing internal control in organizations, including improving corporate governance, building corporate culture with all staff participated, improving organization management mechanism of internal control and human resource system, enhancing risk recognition and evaluation, increasing controlling power to major operating activities, improving efficiency of information flow and communication, and enhancing internal control evaluation systems.It expects that the findings of this paper will bring positive effects on improve the internal control system and risk control capabilities of the TP life. Meanwhile, I hope the results of this paper can help other companies enhance the construction of internal control mechanism within organizations and improve the level of risk management.