A Study On Financial Internal Control Optimization Of Company A

Financial risk management is a newly-developing management science based on the experience of predecessors’ risk management and the development of modern science and technology. Financial risk management is a circulatory, continuous and dynamic process, which consists of multiple steps, including risk identification, risk measurement and risk control. Financial internal control includes accounting control, basic control, discipline control, material control, management control, value control and so on.Company A, a public institution at the departmental level which is managed as an enterprise, shall practice the general manager responsibility system under the leadership of the Party group of the provincial finance, and the General Manager’s Office is the highest authority. The group company has not set the positions of chief accountant and CFO. The company has established financing plan department and take the responsibility for the company’s business plan, financial management and financial supervision. Auditing department is responsible for the company’s internal audit, legal affairs and risk management, which is administratively subject to the vice general manager in charge of the company. Company A has established the performance-based assessment and evaluation system, which mainly includes business objectives and key tasks require based on the actual needs of the company.As for the corporate level, Company A must strengthen the education and training of risk management consciousness for the financial management personnel, improve the organizational establishment, strengthen the collective decision-making, further improve the function of internal audit control, establish the effective mechanism for internal audit control and improve the incentive and restraint mechanism. At the same time, the company should enhance the finance personnel management by improving regular job rotation system, practicing appointment system of finance executive(or finance manager), continually enhance the management of finance(internal audit) personnel and improve the comprehensive ability of the finance(internal audit) personnel.