PMLH Company’s Internal Control Of Coal Procurement Case Study

At the beginning of the21st century, the United States of enron, four-way companies one after another outbreak of the financial fraud, has caused many countries around the world, especially the United States government, strengthen the enterprise internal control management, corporate governance and regulatory audit. Congress in2002passed the sarbanes-oxley requirements related to the company’s management authorities to establish the corresponding internal control measures, and the company to conduct relevant disclosure, the effectiveness of the internal control and external auditor to audit the disclosure report. At the same time, the act specified in the COSO internal control framework as establishment, evaluation of enterprise internal control standards. In our country, the note in2002issued guidance on internal control audit, for Chinese certified public accountants to internal control standard of the auditees into the scope of the audit. Therefore, a comprehensive and effective company internal control system, one is according to the international capital market and regulatory requirements of the relevant regulation, at the same time to integrate the company’s management processes, clear management responsibilities, strengthen the credibility of the financial statements, so as to ensure the realization of company’s business objectives.In this paper, according to sarbanes-oxley。the requirements of section404, the COSO internal control model, evaluating coal PMLH company purchasing link of the status quo of internal control is to establish the company coal purchasing procedures and methods for analysis of the internal control system, research, and gives the relevant implementation plan, the last is the company’s coal procurement procedures how to evaluate the effectiveness of the internal control system, continuous improvement to establish the related mechanism and methods. Goal is to build a set of accord with the actual coal procurement company, comply with regulatory requirements, in line with the market situation of internal control system, guarantee the smooth realization of the target company.Through the study of the formation of coal purchase internal control system, with。 prior beforehand prevention, control and remedy。First of all, each link of the system for the coal purchase and financial report the implementation of the direct and indirect activities provides guidance and specification; Secondly, through the system, can guarantee related activities under control, and operation effect and efficiency for the company to provide guarantee.