Discussion On Y State-owned Assets Investment Group Internal Control Issues And Countermeasures

By promoting the separation of government and business,publicly owned investment companies under municipal control also face the challenge of transformation and modernisation,and the only way to stay ahead in a tightly competitive market and achieve sustainable development is to strengthen the design of internal control systems.Y State Investment Group is a state-owned equity investment company supervised by the local State Assets Supervision and Administration Commission and is typical in terms of investment and financing,engineering management and other aspects.It is therefore of great importance for this paper to examine the internal control problems of the Y State Investment Group and to make suggestions for improvement.This paper firstly introduces the background,purpose,relevance,content and methodology of the study;secondly,it defines and analyses the theoretical foundations of the state-owned capital investment enterprise,internal control and the study.This paper adopts Y State Investment Group as the object of study and investigates the current situation of internal control of Y State Investment Group through fieldwork method and questionnaire administration and return.According to the results of the study,there are problems in the process of designing and implementing the internal control system of Y State Investment Group,such as inadequate control environment,inadequate risk assessment,inadequate implementation of control activities,inadequate timeliness of information transfer and weak internal control.A summarised holistic assessment methodology was then applied to assess the effectiveness of the Y State Investment Group’s internal controls.Based on the results of the questionnaire survey and the results of the fuzzy holistic assessment,this paper analyses in detail the causes of the problems in the Y State Investment Group’s internal control in five aspects: control environment,risk assessment,control activities,communication of information and internal monitoring.Finally,countermeasures and actions are proposed to improve the internal control environment,improve the risk assessment mechanism,strengthen the implementation of control activities,enhance information sharing and information technology,and strengthen the company’s internal control.It is hoped that these measures will improve the Group’s internal control system and enhance the overall effectiveness of Y State Investment Group’s internal control management,so that Y State Investment Group can better adapt to the new environment of market competition.The findings of this paper are not only of guiding significance for Y State Investment Group to improve its internal control system,optimise its corporate management and achieve sustainable development,but also provide reference and reference for the construction and improvement of internal control systems of similar enterprises and enterprises in the same industry.At the same time,the research results of this paper add to the research related to the improvement of internal control in such enterprises,prompting similar state-controlled enterprises to prevent and resist operational risks,enhance operational vitality and improve their overall competitiveness and core competitiveness.In addition,the research findings are also of some application value in further deepening the reform of state-owned enterprises,clarifying the objectives of internal control of state-owned enterprises,and extending and expanding the practice of internal control of enterprises.