Exploration About Internal Control Of Main Business Of State-owned Capital Investment And Operation Platform Company

In the new round of state-owned company reform,"reorganization of state-owned capital investment and operating companies" has been regarded as a prominent highlight.On July 30,2018,the state council promulgated �on promoting the reform of stateowned capital investment,operating company pilot implementation opinion ".The"opinion" has been clear about the main content of the state-owned company capital investment and operating pilot reforms,including the function,form,authorization mechanism,management structure,operation mode and supervision and restraint mechanism,etc,provides a comprehensive roadmap and implementation plan for a new round of reform of state-owned capital investment and operation company.As a provincial-level state-owned capital investment and operation platform company established for many years,this paper analyzes SSKG company's internal control and puts forward Suggestions for its improvement.On the one hand,it can fill the gap in the research of internal control of state-owned capital investment and operation platform companies,and enrich the practical value of the application of internal control theory.On the other hand,it can help state-owned capital investment platform companies like SSKG to establish and improve internal control,and also provide reference for regulators and policy makers.This paper first elaborates the research background and research significance,and reviews the domestic and international scholar of the internal control theory exploration,the quality of internal control,the establishment of internal control and research,and then introduces related concepts of internal control and the state-owned capital investment and operation platform,business and objectives,business risks and theory.Then,combining with the specific case of SSKG company's internal control construction,this paper briefly introduces the development process and operation of SSKG company,as well as the three main business situations and business objectives of SSKG company,and analyzes the business risks of SSKG company and the established internal control.For the financing business,the main risk of SSKG is the financial risk caused by excessive reliance on debt financing to obtain funds.For the investment business,the main risk of SSKG is the operational risk caused by taking excessive longterm losses in the functional investment.For the guarantee business,the main risk of SSKG is the hidden debt risk caused by the joint and several liability guarantee.To guard against these business risks,SSKG company has formulated the "financingmanagement regulation","investment management regulation" and "guarantee management regulation" to regulated and constrained the behaviors in the process of company operation,ensuring reasonable implementation of the company's business objectives as a provincial state-owned capital investment and operation platform.By analyzing the deficiencies of internal control,it found that in terms of financing business,SSKG company has problems such as insufficient group control and imperfect information and communication mechanism.In terms of investment business,SSKG company has problems such as insufficient execution of investment business approval procedures and lack of effective post-investment management mechanism.In terms of guarantee business,SSKG company has the problems of insufficient credit investigation in the early stage and insufficient monitoring of the subsequent operating conditions of the guaranteed company.Finally,through the analysis of the evaluation results of SSKG company's internal control in financing business,investment business and guarantee business,this paper puts forward Suggestions on the improvement of SSKG company's internal control.As for the internal control of financing business,it is suggested to strengthen the overall management of financing business,implement the group control model,and improve the information and communication mechanism in the process of financing business.For the internal control of investment business,it is suggested to strengthen the execution,strictly follow the examination and approval procedures,and regularly evaluate the benefits of investment projects.For the internal control of guarantee business,it is suggested to strengthen the early identification and follow-up supervision of guarantee risks,strengthen the investigation of the credit status and monitor the operation status of the guaranteed company.