Research On The Internal Control System Of Financial Risk Of Coal Enterprises

Since the end of the century, it had occurred Southeast Asian financial crisis and U.S. financial turmoil in the world. And it devastated the world economy. There were many reasons that produced it. But the weakness of the internal control enterprises'financial risk is one of the major reasons. This point has been known by domestic and foreign enterprises, theorists, and governments. As the main body of the market economy, Enterprises face Risks everywhere and all times. To build a comprehensive system of internal control of financial risks is an urgent need to meet all kind of challenges, and is a necessary requirement of the state-owned enterprises'scientific development, and it is the important task to strengthen the state-owned assets supervision, too.The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) were released by the central enterprise Comprehensive Risk Management Guidelines in June, 2006. It carried out a detailed classification of risk management. It included the financial risk which was an important component of risk management. And it fully affirmed the financial risk management in the important role of business management.The F coal enterprise group belongs to the coal large enterprise. By the end of 2009, a total asset of the enterprise was 11.27543 billion Yuan. And liabilities amounted to 8.18706 billion Yuan. It included current liabilities 3.73942 billion Yuan, and non-current liabilities 4.44764 billion Yuan. So asset-liability ratio reached 73%. Asset-liability ratio is too large, indicating that the debt burden of enterprises is too heavy. Other aspect such as enterprise finance risk management consciousness is light. The risk management function is dispersible. The construction risk management is not in place. The risk management organization and agency is not perfect, etc. These areas show that this enterprise has a relatively serious financial risk. Corporate financial risk management and control of work needs to be strengthened. However, this kind of situation is likely more in our country Coal Enterprise. Therefore, the coal enterprise carries on the management to the financial risk. It is a promising future, and also imperative.The present paper based on this kind of consideration, takes the F coal enterprise group as an example, has carried on the deep discussion to the coal enterprise finance risk management. It includes the background and significance which builds comprehensive enterprise financial risk internal control system , the building ideas and content, the construction of overall corporate financial risk management and control system of internal problems that need to attention, etc. When it comes into operation, enterprises have been improved and enhanced competitiveness. Thus it is to improve enterprises' economic operation quality, and to ensure the continued health and stability in the coal industry development.