Research On Internal Control Evaluation Of Financial Institutions

In early 2008,futures trader Jerome Keweier unauthorisedly purchased a large number of European stock index futures,resulting in a huge loss of 4.9 billion euros by Societe Generale,a loss in the global banking sector due to loopholes in internal control systems.The maximum amount of the pen.This shocking case has affected the entire European financial community and even caused the global stock market to plummet,which has sounded the alarm for the world.Since then,the study of internal control has once again become a hot spot of concern.The main international achievements in strengthening internal control are the relevant reports submitted by the COSO Committee and the Sarbanes-Oxley Act proposed by the US Congress.In China,relevant government departments and academic circles have gradually paid attention to the internal control problems of enterprises.In 2008 and 2010,China's Ministry of Finance successively issued a series of systems and norms related to internal control of enterprises.Since then,the internal control construction of Chinese enterprises has begun to be institutionalized.With the continuous deepening of China's reform and opening up,China's financial industry has gradually increased its position in the entire market economy,and the supervision of finance has gradually attracted attention.The 19 th National Congress of the Communist Party of China and the "two sessions" put forward higher requirements for the supervision and management of financial institutions according to the reality of China,and to some extent promoted the internal control construction of financial institutions in China.To this end,this paper selects the Anbang Insurance Group,which has a great influence in recent years,as a case to evaluate its internal control situation from 2014 to 2016.Referring to the COSO report and the five basic internal control elements of China's "Basic Standards for Internal Control of Enterprises",combined with the actual characteristics of Anbang Insurance Group,and with reference to the internal control evaluation of ten listed financial institutions such as Nanjing Bank,Ping An and Huatai Securities The report designed a set of evaluation indicators system,including five first-level indicators,22 second-level indicators,and 75 third-level indicators.In the weight determination and index scoring,this paper chooses the analytic hierarchy process and the scoring matrix method for research.Firstly,experts were invited to judge the importance of the sub-factors of the internal control of the Anbang Insurance Group from 2014 to 2016,and the SPSS software was used to calculate and test the weight of each sub-indicator.Then,through the form of questionnaire survey,professionals from the financial industry with more than five years of experience are invited to score the three-level indicators according to the scoring matrix,and the results of the questionnaire survey are tested.Finally,the scores of each indicator are calculated step by step,and the results of the internal control evaluation of the Anbang Insurance Group are obtained.Through the analysis of the evaluation results,it is found that the internal control of Anbang Insurance Group has obvious problems in control activities,information and communication,and supervision.Based on the analysis,it provides suggestions for the internal control and evaluation of financial institutions in China.By summarizing,the direction of further research is proposed at the end of this paper.