Corporate Current Accounts Internal Control System Study

Internal control is the enterprise in order to cope with increasingly complex business environment, the vagaries of the risk factors, and to adopt various forms of management and control measures in generic terms, is an important component of modern enterprise management. Internal financial control system include internal control which have a direct impact on the reliability of accounting business, accounting records and accounting statements. Improved internal controls will help companies not only implement national policies and regulations, ensure the authenticity of corporate accounting information, maintaining the security of corporate assets, but also help enterprises to improve management, enhance economic efficiency, enhance competitiveness.The enterprise current account internal control, is the internal controls at the business level, is an important link of enterprise internal control. The enterprise current account internal control not only relate to expense and income be properly recorded, the effective management of cash flow, but also relate to corporate procurement and sales smooth operations and reduce the risks in corporate current accounts business.. In this paper, enterprise current account internal control system as the object of study, first reviewed the internal control theory generation and development of history, described the authority definition of internal control and the control environment, risk assessment, control activities, information and communication, internal supervision the five elements as well as the internal control objectives to be achieved. Based on the internal control theory, combined with the case study of the current accounts business of the headquarters of Y multinational enterprises in China, introduce the generation and development of the enterprise in China, the enterprise's organizational principles, market conditions and human resources in detail, to show Y enterprise has a good internal control environment, lay a good foundation on the enterprise's internal controls and current accounts internal controls. The company has a very specific business processes and strict internal control system on the current accounts business level, while the process of corporate accounts payable, the internal current accounts is designed closely integrated with the SAP system. In this paper, the existing process of current accounts business and internal control systems of Y enterprise were introduced, analyzed the key points of the internal control on enterprises current accounts. As Y enterprise SAP on-line has a short time, the staff lack of experience and communication and other reasons, there are still some problems in the implementation of business process and systems design,, this paper in accordance with the request of the "internal control practices-Procurement and Payment" and "internal control practices-Sales and receivables ", put forward suggestions for improvement in the process and internal control system of accounts payable and current accounts of Y enterprise, and made recommendations for implementation of the current company's automatic payments forthcoming project. The effective implementation of these measures will enable Y enterprise promote the internal control system in current accounts area, optimize the business processes, improve work efficiency, improve the management level in current accounts.