Internal Control Improvement For State-owned Enterprise Group On The Basis Of Integrated Supervision

Since the1940s, Internal Control first developed in the US which based onCOSO. COSO is defined as: The so-called Internal Control refers to a generalized setof methods, procedures and measures that are used internally by a certain businessunit which puts into practice the self-adjustment, restrictions, schedules, appraisalsand controls so that the said business unit may fulfill its business targets, keep itsassets secure and complete, guarantee the accuracy and reliability of its accountinginformation, make sure its business strategies are carried out, and also keep itsoperations on an economical, efficient and pragmatic level. People pay more attentionon Internal Control and the relevant research has developed fast.Our internal control theory research started late and based on the theory of US.but it has made great progress since June28,2008, the Ministry of Finance and otherfive ministries promulgated the <basic Standards for Enterprise Internal Control>, thefirst execution in the territory of China listed companies since1July2009. After alldomestic regulatory units, enterprises increasingly stringent internal controlrequirements, listed companies must obey and other medium-sized enterprises areencouraged implemented by the CEO who is required to sign the internal controlself-assessment report on the internal control design and is responsible for the validityand effectiveness of Internal Control system. The audit commission engaged inissuing internal control audit reports.The study focuses on how to improve internal control of State-owned enterprisegroup. The study combined COSO and integrated supervision, intending to build amodern enterprise system of internal control, and put forward practical feasibility ofproposals.