Research On Optimization Of Internal Control System Of Petrochemical Company B

In recent years,with the continuous development of China’s petrochemical industry and the deepening of the reform of the state-owned enterprise system,the importance of internal control management in the business development of enterprises has become increasingly apparent.As the largest producer and supplier of petroleum products and major petrochemical products in China,China Petrochemical Corporation(hereinafter referred to as Sinopec)has established and implemented its internal control system as early as 2003 and officially implemented it in 2005.At present,it has a relatively complete internal control system,but it still faces some challenges in the fierce market competition.B Petrochemical Company is an East China regional branch affiliated to Sinopec.This paper takes the defects of B Petrochemical Company’s internal control as the research object,analyzes the causes,and proposes solutions,which can provide reference for the continuous improvement of Sinopec’s internal control system.This paper first elaborates the theory of the internal control normative system and the relevant basic theories of internal control in China through the literature research method,starting from the literature research on internal control systems at home and abroad.Secondly,B Petrochemical Company is taken as the research object to analyze its internal control status.The questionnaire survey method was used to score the satisfaction of relevant personnel in five aspects of B Petrochemical Company: control environment,risk assessment,control activities,information and communication,and internal supervision.The defects in the internal control system were found out through the analysis of actual data.Thirdly,guided by these problems and combined with the actual situation of B Petrochemical Company,we propose optimization plans such as optimizing the control ring,conducting systematic risk management,improving control activities,improving information and communication efficiency,and strengthening internal supervision.Finally,the implementation guarantee of B Petrochemical Company’s internal control system is proposed from four aspects:organizational guarantee,financial guarantee,talent guarantee and technical guarantee.This paper makes relevant research on the internal control status of B Petrochemical Company,and the proposed optimization scheme can not only serve as the guidance for its actual operation,but also provide reference and guidance for other oil field companies,help improve the operating efficiency of petrochemical enterprises,and protect state-owned assets.