Case Study Of Changsheng Vaccine Based On Internal Control Perspective

In 2016,Shandong Province cracked a major vaccine violation case,followed by frequent scandals in the vaccine manufacturing industry,first in Jiangsu Yanshen,then Changsheng Biology and Wuhan Biology.Through the analysis of these cases,it can be found that the production of inferior vaccines for profit by vaccine manufacturers is closely related to the imperfect internal control and corporate governance of enterprises.Internal control is just like the firewall of an enterprise.It can prevent the high-level fraud and the risk of production and operation.However,the implementation of the overall internal control of Listed Companies in China is not perfect.For example,the internal control of Changsheng Biology is nothing.Although the internal control self-evaluation form is regularly announced,it can be seen that it is only routine and does not play a practical role.Therefore,it is the basis for the development of listed companies to improve and implement the internal control system in accordance with their own reality.Based on the perspective of internal control,this paper uses literature research and case analysis to study the case of Changsheng Biological Vaccine.Through publishing annual report and related announcements of Changsheng Biological Vaccine,the imperfections of Changsheng Internal Control System and corporate governance can be seen from financial data and other internal control information.Explore the causal law between internal control deficiencies and exposed problems to find the underlying motivation of fake vaccines for long-lived organisms.It provides reference for listed companies to formulate more perfect and effective internal control system.This paper adopts the method of writing case-based papers.Firstly,it introduces the significance and purpose of this case and what shortcomings exist.Then it is the case text,describing the emergence and development of the problem of the Changsheng Biological Vaccine Case and the current situation of the operation of Changsheng Biological Vaccine Case.Then it is the case analysis.Firstly,through the analysis of the financial situation of Changsheng Biological Company,the irrationality of the production and operation of Changsheng Biological Company can be seen from the financial data.Then,the internal control of perennial organisms is analyzed by COSO five elements method,and then some suggestions are put forward for the imperfect and unreasonable internal control system of perennial organisms.Finally,the conclusion of this paper is summarized.