Research On The Improvement Of Z Group Company's Value-added Internal Audit

With the economic and social development and the ever-increasing competition of the company,a complete and scientific corporate governance mechanism is particularly important for the development of the company.As one of the means of corporate governance,internal audit has a far-reaching impact on companies and is playing an increasingly important role.In 2013,China Internal Audit Association issued new auditing standards.In the definition of internal auditing,it was pointed out that“internal auditing is an independent and objective confirmation and consulting activity.It uses systematic and standardized methods to review and evaluate appropriateness and effectiveness of the organization's business activities,internal controls,and risk management to promote organizational integrity,increase value,and achieve goals." This definition has converged with the international internal auditing standards,and expands the functions of internal auditing from previous supervision and evaluation to confirmation and consultation.The aim of internal audit is to improve the value of the company.However,how to use the value-added internal audit to promote the value of enterprises is a major problem in the theoretical and practical circles of internal audit.The research has important theoretical and practical significance.Z Group Company,which is mainly engaged in R&D and manufacture of high and new technology equipment such as engineering machinery,environmental industry and agricultural machinery,is one of the leading engineering machinery enterprises in the world.In this paper,we take the method of case study and literature research,refer to the relevant research results of internal audit,and introduces corporate governance,risk management,and value chain theory as the theoretical basis.After introducing the basic situation of Z Group Company and the operation situation of the company's value-added internal audit system,it reveals the problems of the internal audit of Z Group Company in the aspects of institutional setting,functional scope,work procedure and audit resources,and makes an analysis of the reasons.Based on the above problems and the analysis of the causes,this paper puts forward some suggestions for improvement,including improving the construction of value-added internal audit system,expanding the scope of value-added internal audit,strengthening the value-added internal audit working procedures,building value-added internal audit resources and constructing value-added internal audit performance evaluation system.The article studies the problems and reasons existing in internal audit of Z Group Company,puts forward some suggestions to improve the development of the value-added internal audit of the case company and the same type of company,to improve the efficiency of the company and to promote the value of the company.