WH Group Risk-oriented Internal Audit Application Research

The implementation of the "made in China 2025" strategy and the upgrading of the manufacturing structure from labor-intensive industry to capital and technology-intensive industry should also be accompanied by the upgrading and transformation of the internal resource structure.Internal audit is one of the four cornerstones of corporate governance.At present,the work of most corporate internal audit institutions is still to test the completed items of enterprises,and the problems existing in the basic internal audit mode are increasingly prominent in the specific application.As a new type of audit mode,risk-oriented internal audit focuses on risk assessment rather than testing procedures,which can help enterprises effectively identify and prevent risks.This paper will take WH group,a manufacturing company,as the research object.Starting from its current internal audit status and problems,it will lead to the construction of its risk-oriented internal audit model,trying to propose a better audit model for WH group's internal audit,and hoping to provide some references for similar enterprises.First of all,this paper introduces the research background and significance of the subject,summarizes the domestic and foreign research status in the field of risk-oriented internal audit,and summarizes the relevant theories of risk-oriented internal audit,which lays a theoretical foundation for the following writing.Followed by analysis of WH group internal auditing present situation,found that the scope of the audit deficiencies,weak internal audit,audit results,the execution of the degree is low,and the company's management problems such as inadequate understanding of risk,in order to enable enterprises to better identify risks,improve business efficiency,better realize the group's strategic objectives,based on the company's business and industry characteristics,based on the existing problems of WH group makes a construction of risk-oriented internal auditing,the focus is on the risk identification,The risk analysis of each subsidiary will be carried out from the four aspects of business characteristics,operation and management level,internal environment and external environment,the risk assessment will be quantified,and the proposed model will be applied.Finally,measures are proposed to ensure the smooth implementation of the risk-oriented internal audit model.Based on the practical application of WH group,it can be seen that risk-oriented internal audit is more macro while traditional internal audit is more micro.Quantifying risk points can highlight the key points of audit work and help improve the quality of audit work.Moreover,in view of the current development situation,risk-oriented internal audit is an important part of achieving high-quality risk management and an inevitable requirement for promoting the further development of internal audit.