Research On Internal Control System Of International Freight Forwarding Companies Based On The New Framework Of COSO

Since the beginning of21st century,the rapid development of economic globalization and the deepening of regional economic cooperation have greatly stimulated the rapid development of the international freight forwarding industry in the world.As China entered WTO,foreign trade and economic cooperation increased rapidly,and total import and export volume ranks first in the world.Especially afterthe belt and roadstrategyproposed,economic and technical cooperation between China and other countries were gradually deepened.As the link of regional economy,international logistics ushered in the great development opportunities,and the important position of international freight forwarding business has become increasingly prominent.At the same time,due to the low barriers to entry,a large number of small and medium-sized freight forwarders have emerged,and the market competition has reached a high level.The international freight forwarder must perfect the internal control system and improve the core competition ability,so as to remain invincible in the fierce market competition.Firstly,this paper makes a systematic literature review of internal control,and on this basis,from the definition,elements,principles and other aspects of the main content of the new framework of COSO,but also focuses on the differences between the old and new frames.Secondly,combined with the business characteristics of international freight forwarding enterprises,the internal control method and its existing problems are analyzed.Then,this paper performed a case study of S international freight forwarding company,guided bythe 17 Principles of COSO internal control framework,with thoroughly research and analysis,we found that S company internal control has many problems,such as lack of good internal control environment and scientific and complete system of risk assessment,haphazardinternal control activities,low integration of information systemand weak supervision,which has seriously hampered the sustainable development of the company.Finally,this paper analyzes the reasons for these problems,combined with the new COSO framework from the optimization of internal control environment,establish a sound risk assessment system and standardize the internal control activities,strengthen the integration of information system,improve the supervision system and gives suggestions for improvement.Hoping to provide a certain reference value for the practical application of COSO new framework in international freight forwarding enterprises.