Research On Internal Control Optimization Of F Company Based On COSO Framework

Since China’s reform and opening up,enterprises have risen rapidly,developed and expanded,and their economic benefits have increased significantly.How to develop steadily in the rapid growth of enterprises,internal control is particularly important.Internal control is the foundation of all business activities of an enterprise.Only when all business activities are operated legally and compliantly under internal control can the enterprise operate better and better.In recent years,the market competition has become more and more fierce.Low cost and high quality are the primary goals of enterprises.To achieve this goal,it is necessary to establish a good internal control process,refine every management process of the company,integrate resources and reduce waste of resources.The entire company conducts joint supervision and control.This paper takes F auto parts company as the research object,analyzes the current situation of the company’s internal control system,describes the problems existing in the company’s current internal control system,analyzes the current internal control risks,puts forward reasonable internal control suggestions,improves the current internal control risks,and establishes a more complete internal control management system to provide reasonable guarantee for the operation and development of enterprises.Based on the theoretical basis of internal control related papers,journals,and internal control books,this paper systematically introduces the concepts of internal control integration framework,information asymmetry theory,and principal-agent theory,and analyzes the current research status of internal control at home and abroad.This paper introduces the current situation of the company’s internal control from five aspects: control activities,information and communication,and internal supervision,and points out the problems existing in the internal control of Company F,which are mainly due to the weak awareness of management and employees,internal control is a mere formality;management and employees are weak in risk awareness,the company has not established a risk assessment mechanism;the independence of internal audit is poor;the information communication method is not perfect;financial personnel lack professional ability,job responsibilities are unclear,asset management is chaotic,sales price confirmation is not timely,and there are loopholes in the procurement approval process and other control activities.Analyze the causes of the identified problems and propose optimal solutions.The research of this paper optimizes the problems existing in the internal control management of F company.In terms of control environment,it helped the company’s management and employees to establish internal control management awareness,and implemented the internal control management process into each business activity of the company;in terms of risk management,it established employees’ risk awareness and established a risk management department to effectively The company’s risk is assessed and controlled in advance;in terms of control activities,it has solved the problems of chaotic asset management and unclear job responsibilities in the current control activities;in terms of information and communication,the bottom-up communication method has been added to strengthen communication with external customers.In terms of internal supervision,an independent internal audit department has been established,which effectively plays the role of internal control in the supervision and control of various business activities of the company.It reduces the business risk and financial risk faced by the enterprise,and improves the business efficiency and effect of the enterprise.It is hoped that the optimization research on the internal control problem of F company can provide a reference for the internal control management of other auto parts companies.