Research On Internal Financial Control Of TPCO-US Project

Considering the current development situation of domestic and international steel industry, TPCO made a significant decision to build a seamless pipe mill in US for a wider market with responding the strategy of “going out” on 2011. The capacity of this pipe mill can reach 500,000 MT. Now, a part of pipe finishing mill has been built and the major mill called pipe rolling is under construction. As the project construction and operation being implemented gradually, the risk of internal control management has been exposed. Every staff engaged in this project should think about how to guarantee the stability and profitability of construction and operation by strengthening the inter control.Base on the theory of internal control, this essay combines to use the theory of risk management and project management through studying this project. This essay started with the concept of internal control theory, following by the emergence and development of internal financial control. Literature Study and case study are applied. We can find this project has some inter control problems, such as the current organization structure need to be adjusted.Budget management, capital control, cost control should be improved. There are internal communication problems. Audit and risk management needs to be strengthened. The easy is trying to find the answer to solve these problems and optimize the internal financial control for this project.The first part introduces background, significance, research methods and framework. The second part presents the foundation of internal control theory. We can find the project information and problems of the internal financial control in third part. The detail analysis regarding these problems is presented in same part. Base on the former parts, the fourth part find the way to optimize the internal financial control for this project and draw a research conclusion.This essay focuses on the practice of the internal financial control, trying to mortify the weakness of management. Probably, project manager may get useful information with the professional, systematic and operable solution. In addition, the pipe industry may benefit from successful experience of this project. The essay can be considered a summary to my career in past 3 years. Hope this essay can provide some help for my colleagues. Wish the “going out” enterprise can make success.