On The Internal Audit Of Personal Financial Products In Commercial Banks

Under the background of interest rate marketization,the emergence of various Internet financial products,such as yu'ebao and Qian Qian Bao of non-financial institutions,has forced the reform of commercial banks from the traditional deposit and loan business to the intermediary business gradually,and the personal financial business as one of the intermediary business has also been affected.In particular,with the introduction of the "new financial regulations" on September 28,2018,the bank's personal financial products broke the rigid payment and implemented the net value management.The original principal guaranteed financial products will gradually withdraw from the market,further increasing the risk of personal financial products.The credit creation function of personal financial products determines its existence of credit risk,that is,when the personal financial products are due,they can not pay income and may not be able to repay the principal.Therefore,since the birth of the bank's personal financial services,various financial disputes have been caused.As an important part of the whole audit supervision system,internal audit,together with government and private audit,undertakes the supervision function,in order to ensure the healthy and efficient operation of commercial banks.If commercial banks want to improve their core competitiveness in the market,they need to effectively manage and prevent risks,and audit departments need to assume their own responsibilities.They should pay more attention to personal financial products and risk management,conduct internal audit on personal financial products,fully expose financial risks,and then effectively manage risks.Based on this,this paper intends to choose the internal audit of commercial banks as the research perspective,and j bank personal financial products as the research object.From the perspective of theory and practice,this paper mainly adopts the case analysis method,using the entrusted economic responsibility theory,information asymmetry theory,risk management theory and Internal control theory to analyze the internal audit of personal financial products,and systematically expounds the object,content and procedure of the internal audit of personal financial products.Based on the theoretical results of the research on the internal audit of personal financial products in China,combined with the implementation of the internal audit of personal financial products in bank J,this paper analyzes the existing problems and causes,puts forward countermeasures and suggestions to improve the development of the internal audit of personal financial products,and provides basic materials for the research on the internal audit of personal financial products of commercial banks.Based on the analysis of the current situation of internal audit of personal financial products of J commercial bank,this paper finds a series of problems existing in the preparation stage,implementation stage,report stage and result application stage of internal audit of personal financial products of J commercial bank.According to the problems existing in the internal audit of personal financial products of J commercial bank,this paper deeply analyzes the reasons.The main reasons include: lack of internal audit standard system of personal financial products,the internal audit team of personal financial products is not strong,backward internal audit methods and irregular procedures of personal financial products,and imperfect application mechanism of internal audit results of personal financial products.According to the situation of internal audit of personal financial products of bank J,combined with the analysis of the causes of the problems existing in bank J,this paper puts forward some reasonable suggestions and Countermeasures to improve the internal audit of personal financial products of bank J,so that the internal audit of personal financial products can play a more effective role and achieve the purpose of strengthening the internal audit of personal financial products of commercial banks.The countermeasures mainly include: establish and improve the internal audit system of personal financial products,strengthening the construction of the internal audit team of personal financial products,broadening the internal audit methods and procedures of personal financial products,and increasing the application of the internal audit results of personal financial products.Through the exploration of J commercial bank's internal audit of personal financial products,this paper attempts to provide new thinking and evidence for improving the internal audit system of personal financial products of commercial banks.It can enrich the theory of internal audit and risk management and provide theoretical support for the internal audit of personal financial products of commercial banks.