Research On Internal Control For Finance Shared Service Center

Financial shared service is a management mode established on the basis of the in-depth reform of financial organizations and is intended to realize the centralized management of the whole financial business by resource integration and process reengineering to solve such problems encountered by enterprise groups in the process of expansion as high financial costs,low efficiency of financial management,redundant finance departments and inadequate control of subsidiaries by groups.Meanwhile,the transformation from financial accounting to management accounting is the major trend of the accounting reform in China.With the establishment of financial shared service center,a large number of financial personnel have been freed from labor-intensive basic accounting work with low added value and have been engaged in business finance and strategic finance to realize the integration of finance and business.However,in the mode of financial sharing,both finance and business have changed dramatically,with internally-controlled focus and risk transferred accordingly.Business managers and related researchers are also concerned with how to realize the internal control in the financial shared service mode.Driven by relevant policy and economic background,large domestic enterprises have begun to gradually take the road of financial sharing in recent years.Company C has accumulated rich experience in the establishment and implementation of financial shared service center.Such experience has high learning and research value.The status of Company C's internal control of financial shared service center and the internal control risk therein and corresponding countermeasures are analyzed by explaining the concept of financial shared service and introducing,in combination with practical cases,Company C's complete business processes and specific internal control methods for financial shared service center and from such perspectives of internal environment,risk assessment,control activities,information communication and internal supervision.Reference is provided for the establishment of financial shared service center by domestic enterprises and how to realize effective internal control in combination with the status of Chinese enterprises.