Research On Assessment Of Internal Control Over Financial Reporting

Since the recent years, accountant scandals are frequent, which creates heavy loss to the capital market, attacks the investor's confidence. The society has given the unprecedented attention to the financial information distortion. In view of this, the theorists and the practical realm carried on widespread discussion and the research. The practice proved that, the internal control is playing role in guarantying financial report's reliability. specially after promulgation of , the reporting and assessing of"Internal Control Over Financial Reporting"has became the issue. Along with the establishment of"Enterprise Internal Control Standard Committee", the reporting and assessing of the internal control over financial report will be put into practice ultimately. In view of this, this article plans to learn the Western developed countries'practice, do the preliminary study from CPA's angle.On the hole it is arranged in five chapters.Chapter one: Narrated this research'background, and briefly summarized the international and domestic research.Chapter two: Elaborated the elementary theory of internal control over financial reporting; Limited the concept,clear about the control goal, the components,Has analyzed the financial report internal control essential factor and between the financial report reliability relations .Compared the internal control over financial reporting and internal accounting control, pointed out the relationship and the differences as well as the inherent limitation.Chapter three: Elaborated Auditor's Objective in an Audit of Internal Control Over Financial Reporting, the assessing scope, the framework which would depend on.Chapter four: Designed the process of assessing the internal control over financial reporting from the practice angle. Including planning the Engagement, evaluating Management's Assessment Process, performing an Audit of Internal Control Over Financial Reporting, forming an Opinion on the Effectiveness of Internal Control Over Financial and so on.Chapter five: analyze the barrier and the problems must be solved during the carry on the Internal Control Over Financial Reporting.