Research On The Effectiveness Of Internal Control In NG Steel Company

The steel industry is the backbone of my country’s economic development and has made outstanding contributions to the growth of my country’s GDP.At present,the global monetary tightening and the rise of trade protectionism have hindered China’s economic growth.As a labor-intensive steel industry,it has a high degree of relevance to the national basic industry,and has the characteristics of "double high barriers" of capital and technology.The risks it faces are also increasing.In addition,in recent years,the prices of raw materials for the production of steel have remained high,and the operating risks of the steel industry have been increasing.In the process of national supply-side reform,the steel industry bears the brunt as a representative of overcapacity.Resolving production capacity,reducing crude steel output and achieving green development and getting rid of the plight of the entire industry are urgent requirements for the development of domestic steel companies at this stage.It is inevitable for enterprises to make adjustments and upgrades,and companies in the transition period are more prone to loopholes in their management.Therefore,it is more and more important to establish and improve the internal control system of iron and steel enterprises to ensure their effectiveness.This article selects NG Steel Company as the main body of the research.Through the investigation of the current status of NG Steel Company’s internal control,the effectiveness of the company’s internal control is evaluated.Based on the analysis of the causes of the problems in the effectiveness of internal control,the NG Steel Company is targeted.The internal control puts forward corresponding optimization suggestions,so that the effects of the internal control can be fully exerted,which has very important reference value for the stable operation of the NG Steel Company and the further establishment and improvement of the enterprise’s internal control system.The thesis first introduces the significance and background of studying the effectiveness of internal control in iron and steel enterprises,combs domestic and foreign research literature on internal control of iron and steel enterprises,and summarizes the research theories on internal control on this basis;As the main body of research,NG Steel Company has adopted a literature research method and a case analysis method from the perspective of the five elements of internal control to elaborate on the internal control situation of NG Steel Company at this stage,and has systematically evaluated the current stage using analytic hierarchy process and fuzzy evaluation method.The implementation effect of the internal control system of NG Steel Company,and further excavated the reasons for its internal control failure;finally,combined with the specific situation of NG Steel Company’s internal control at the current stage,put forward targeted improvement suggestions,hoping that the research results of the paper can be used by NG SteelCompany and other steel companies provide a sound reference for establishing and improving internal control systems and improving the efficiency of operations and risk management,thereby promoting the realization of the strategic goals of steel companies.