Research On Internal Control System Of Sinopec Petroleum Engineering Company

Sinopec Group dispersed in non-listed companies in various fields of petroleum engineering companies to form a new company, called "Sinopec Oilfield Service Corporation". Sinopec Group plans to successfully list the new company in2015.According to the ministry of finance issued "enterprise internal control basic standard" requirement, Sinopec Oilfield Service Corporation must establish a set of petroleum engineering company, prepare to meet the requirements of the listed company internal control manual for more professional, long industrial chain oil project internal control system is studied and discussed.Firstly, the author uses historical research methods course to analysis the evolution of the internal control systems of the world development, also studies China’s system of internal control system and policy requirements, based on a careful analysis of petroleum engineering company’s internal organization, the professional business management processes, industry features. Secondly, the author analyzed the internal control management environment in petroleum engineering company, and the author focuses on the difficult issues of inner-controlling system in petroleum engineering company. Thirdly, the author analyzed process design of inner-controlling system. In the full study of petroleum engineering company’s organization, professional business management processes, industry characteristics, the author analyzed matrix of business process management, permission settings, etc.Fourthly, according to the modern theory of the development of internal control, the author discusses risk management and the risk-oriented coping strategies under the system of internal control. Fifthly, the author introduced the implementation of inner-controlling system from both line management and evaluation of internal control testing&inspection. Finally, based on research and data analysis, the author reached the conclusion:that is integration and hierarchical inner-controlling system shall be suitable for Sinopec Oilfield Service Corporation. Moreover, the author puts forward two suggestions on the operation of the internal control system of the next step. Through the research, the author provides a normative model on how to help the large Multi-National petroleum engineering corporation to establish an inner-controlling system.The author makes a useful exploration to improve the internal management of "Sinopec Oilfield Service Corporation".