Research And ICFR Restatement Of Financial Statements

Nowadays, we are in a period when the internal controlling system of enterprises and the theoryand practice of corporate governance are experiencing significant change, and the problem of falsefinancial report by quoted companies using repetitive reports is becoming increasingly obvious. Therepetition of financial report is one of the factors that cause severe defects in the internal controllingsystem, which means that the internal control over the financial report should be intensified by themanagement. The internal control of entrepreneurial financial report is the fiscal policy and procedurethat is devised by the entrepreneurs to keep the business operating in order. It serves as a guarantee tokeep the safety of the reserves and the authenticity of the fiscal information, and to ensure that thecountry’s laws and entrepreneur’s rules could function smoothly, restricting the various fiscal activitiesand relative positions in the entrepreneurs. The reason why the internal control of financial report couldbecome the central component of the enterprises’ internal controlling system is that its target are highconsonant with the value and targets of enterprises. With economic development, the quoted companieswill pay more and more attention to the implementation of the internal controlling system. This paperthus firstly summarizes the current studies on the repetition of financial report and internal controllingsystem, and then analyzes the problem of the repetition of financial report of Shen Zheng HailianxunTechnological Co. Ltd, showing the problem of internal controlling system reflected in the repetition offinancial report. In the end, the author will put forward some suggestions concerning the enhancementof the internal controlling system of financial report., in the hope of increasing the enterprise’s profitsand improving its internal controlling system.