The Research Based On Constructing The Internal Financial Controls Of College K

China's economic environment has gradually maturated in the wake of the establishment and perfection of China's socialist market economy system. At present, in more and more colleges and universities, enrollment is soaring, capital flow going up dramatically, economic activities becoming more complicated. As a result, the development of internal control fails to match the development of the colleges and universities. Therefore, it is imperative to reinforce the research of internal control in colleges and universities. Under the new circumstances, in order to strengthen and improve public institutions' risk awareness as well as to further standardize every operational activities and eliminate the potential risks, Finance Ministry, according to the national laws and regulations in accounting and budget, enacted an exposure draft in 2011, and implemented the trial norms, the Norms of Internal Control in Administrative Institutions, in 2012. On January 1, 2014, the trial norms came into official implementation. Currently, the research of internal control in colleges and universities is generally based on the theory of enterprise internal control, and takes for reference and carries out the five elements of American COSO. Although the researches are based on the domestic status quo, they are not in line with the characteristics of domestic colleges and universities, and are hardly of any help to the internal control in domestic colleges and universities. Consequently, it is urgently needed to apply the newly-enacted Norms of Internal Control in Administrative Institutions to the internal control in colleges and universities.Taking K University as an example, the paper analyzes its status quos of internal control and points out its problems of internal control, especially the deficiencies of internal control. In the light of the Norms of Internal Control in Administrative Institutions, the paper, in order to further improve the internal control in K University, also puts forward some suggestions and solutions accordingly. The paper has some reference significance to other colleges and universities and is significant in pushing colleges and universities to develop toward a positive direction, enhancing colleges and universities' abilities to guard against risks, reinforcing colleges and universities' management and advancing the sustainable and sound development of colleges and universities.