Optimization On Risk Orientation Internal Audit Framework Of CSI Group

Risk-oriented internal audit is the enterprise risk management and control technology, and also the critical factor for enterprise to get the advantage in rapidly changing economic competition. Risk-oriented internal audit uses risk management and control technology as tools, and it has great significance on supervision and evaluation of enterprise risk management. In the background that the theoretical study of risk-oriented internal audit is relatively mature, many corporations start to exploit the internal models fit for them. Since 2006, CSI Group, as a well-known corporation, is committed to building the model, from the traditional risk-oriented internal audit model to risk-oriented internal audit model transformation, for risk control and competitiveness improvement. This paper, based on the risk-oriented internal audit model, comprehensively analyzes the risk-oriented internal audit model of CSI group to find out the existing problems and optimize it, coming up with measures, aimed at preventing the financial risk and business risk effectively and establishing and perfecting the mechanism of internal constraint and internal control. Thus, they will help the enterprise realize their aims.This paper includes five chapters. The first chapter is introduction, discussing the background and meaning of the topic, research content, and research methods. The second chapter is theoretical review of internal audit, mainly discussing the development of internal audit theory, risk management theory and risk-oriented internal audit theory. The third chapter is the present status and problem analysis of CSI group internal audit model of, main analyzing company overview, development and application situation of company internal audit model and company existing internal audit model problems; the fourth chapter is the optimization measures of risk oriented internal audit model of CSI group, main discussing internal audit independence, the authoritative design, the internal organization construction, the optimization of functions, and plans of personnel integrated quality and training, improve the risk consciousness of administrators and establish complete risk library, risk-oriented internal audit model measurement tools and internal auditing quality control. The fifth chapter is the main findings and discussion.The main feature of this paper is that CSI Group is typical as a target unit of risk analysis. On the basis of a comprehensive analysis of the CSI Group, we have an integral understanding of development and application situation of the Company’s internal audit model and analyze the necessity to optimize the risk-oriented internal audit model, which mainly are:optimization of risk-oriented internal audit is the demands of the company to carry out risk management; optimization of risk-oriented internal audit is the result of implementing the relevant regulations of the company and "Standards of Internal Auditing Practice"; optimizing risk-based internal audit is to improve audit efficiency and it’s the inevitable trend to enhance the value of the audit work. We also deeply analyze the main problems in the company’s existing internal audit model, which mainly include that internal audit department lacks a complete independence and authority and there are an unclear departmental responsibilities in this department, it has an incomplete risk awareness of the demand for high-end talent, managers don’t have complete sense of risks and the internal audit department don’t have complete risk assessment tools. In premise of ensuring the independence and authority of the internal audit, constructing audit team and equipped with professional internal audit staff, on whose basis, we suggest optimizing CSI Group’s model of risk-oriented internal audit.The main conclusion of this paper is to analyze from the current internal audit environment of CSI’ internal audit department and put forward relevant proposals, take further optimization measures and further improve and fully optimize CSI risk-oriented internal audit with the use of analysis tools such as Pest. In consequence, as enterprises exert the basic functions of the internal audit, they can more coordinate functions and complement each other, thus a complete system of risk-based internal audit function is built up. The paper has emphasized the key role of modern internal audit in connecting risk control and enterprise objectives including value addition, improvement of functioning of the organization, evaluation and improvement of risk management, effectiveness of control, helping the organization play its key role in realizing the aims.In terms of the above conclusion, the paper finally discusses the future of CSI Group’s risk-oriented internal audit. It believes that the risk-oriented internal audit is not a new concept. But how to use it well is still a topic worthy of study, which requires a combination of qualitative and quantitative research methods and a further in-depth discussion needs to be carried out.