The Promotional Researches Of The TEC’S Interior Control System

Under the circumstances of China’s New Normal, the construction enterprises are confronted with severe challenges, in terms of itself or the whole construction industry. Difficulties in obtaining the business, capital recovery, and low profits have become the inevitable top three problems. The Tefang Construction enterprise of Xiamen(TEC for short), which once was called the 4th Construction Enterprise of Fujian Province, was founded in 1951. It’s the only national construction enterprise that has possessed the first class quality. While it’s developing quickly and has achieved both social and economic benefits, the enterprise also faces the three problems mentioned above. As a result, the most important thing is to reinforce the interior control, show its own competitive advantages and enhance its competitiveness. In our country, the interior control system of construction enterprises is still underway and in investigation process. Whether the establishment of internal control criterion or the practical level of enterprise internal control has a vast gap with developed countries like U.S.A., then going into an in-depth study of internal control system improvement for Chinese construction enterprises has the practical significance.In 2013, COSO committee released a new version of "internal control integrated framework"(hereinafter referred to as the new COSO framework), and puts forward the 17 core principles which are correspond with internal control five elements,the17 principles and five elements enable enterprises to compareits actual situation with new framework which has a better practical significance, new COSO framework could guide enterprises to carry out the internal control better. This paper based on the new COSO framework aiming to analyze the TEC’s internal control operation status and improve TEC’s internal control level.The paper based on the theoretical research, combined with the actual caseanalysis,use the benchmarking to analyze the internal control of TEC, and then put forward the improvement opinion. Firstly, the paper explains the research background andsignificance, main contents and research methods, research status and innovation points and features. Secondly it explains the basic theory of internal contents and the development of COSO new framework, then we review the literature of Chinese and foreign scholars. Thirdly it analyzes the current problems of TEC’s internal control system and the causes of these problems. Fourthly it analyzes the current status of TEC’s internal control system by comparing COSO new internal control framework,and points out that the shortcomings. At last aiming at the exist problems this paper suggest TEC could promote its internal control by improving morality, the duty, the feedback of information exchange, the control over risk management, and the supervision and correction mechanisms. This conclusion provides certain references for state-owned construction enterprises which want to construct and improve their interior control systems.