A Case Study Of Internal Control Of WM Company Financial Accounting

Although the relevant theoretical research work for the enterprise internal control construction in China has been considerable progress and development in recent years, which comparing to foreign advanced internal control system, there are still many problems. How to cut a pragmatic implement to build and improve corporate internal control into practice effectively has became a serious obstacle to the healthy and stable of long-term development in company.We know that the internal controls throughout all aspects of business activities, as long as the existence of economic activities and enterprise management, you need the appropriate internal controls. According to the "Internal Control-the overall framework "issued by COSO Commission in1992, which defines what is a scientific and reasonable internal controls and how to design and effectively implement a internal controls, they are compose of control environment, risk assessment, control activities, information and communication and supervision.In this paper, with theoretical analysis and empirical research methods, we selected a limited liability company as a case--WM Company:firstly, showed the existing internal controls in WM Company according five different aspects from COSO Committee has defined. Then expanded the analyzed and researched on the internal controls problems of WM Company, especially put the eyes on financial and accounting internal control. Finally combined the latest contemporary internal control and risk management theory to improve the overall financial and accounting internal control system in WM Company, we proposed a series of recommendations for those improvement.