A Survey On Risk Control Of Guaranty Business For Listed Corporation In China

In recent years,with the expansion of the guarantee business,"guarantee" has been much used in the financing process of listed companies,and more and more listed companies have over-guarantee,or even illegal guarantee.Non-standard guarantee behavior and the formation of intricate guarantee's network lead to the amplification of the guarantee risks,which bring the listed companies to financial risks is enough to make the company into financial difficulties.This problem has been a major trap in the operating management of listed companies.Therefore,it is an important link in the guarantee business of the listed companies that whether we can accurately identify the guarantee risks and whether we can take effective measures to control its own risk to avoid the impact on the normal operation.This paper is based on risk control,taking SMeiGuoJi as the research object.Though sorting out the current situation of the SMeiGuoJi' s guarantee business and the risk control of its guarantee business,the paper finds out the merits and demerits of SMeiGuoJi' s risk control of guarantee business and puts forward some suggestion and recommendations for the listed companies to perfect the risk management of the guarantee business.The suggestion can be listed as three aspects: standardizing the regulations and organization of the risk control of the guarantee business,improving the business process level of the guarantee business and establishing the internal auditing system to supervise the guarantee business.The organizational system level mainly emphasizes the establishment of a reasonable system which is focus on the separation of duty,clearing out the duty of every department which is relating to guarantee business;improving the business process level of the guarantee business includes three aspects: pre-risk control,risk control and ex post risk control which belongs to establishment of the whole process risk control system.Specifically,the suggestions include that being strict to the acceptance of guarantee business,refining the specific contents and quantifying the risk assessment of the indicators,optimizing the collective decision-making mechanism,implementing the unite signature system,improving the details management of the signing of the contract,establishing the of risk warning system and response mechanism,positioning the reason of the risk and optimizing the generation of compensation and recourse process,and perfecting the performance evaluation system and accountability system;establishing the internal auditing system to supervise the guarantee business is through clearing the duty of internal audit department and doing the regular inspection and evaluation to further ensure the implementation of the risk control of guarantee business process.These three aspects not only comprehensively construct the listed company's guarantee business risk control system from organization,system and process,but also establish the internal auditing system to ensure the implementation of risk control measures of guarantee business.