Research On Internal Control Of M Group Financial Shared Service Center

With the rapid development of the world economy,the pace of enterprise expansion is getting faster and faster,the trend of globalization is becoming more and more obvious,and the scale is getting bigger and bigger.For the enterprise group to achieve more efficient financial management,saving financial management costs and simplifying complexity The financial process forms a standardized financial accounting,and the financial sharing model emerges as the times require.It is an enterprise management mode that brings together various financial settlements within an enterprise group,reengineering and integrating financial processes,and performing financial vertical management.Finally,the scale of financial settlement is realized,which greatly saves the financial cost for the enterprise group,further improves the efficiency of financial accounting,unifies the financial accounting process and method,makes the data more standardized,facilitates the analysis and use of the business,and issues each Financial report.The financial sharing model is a reorganization and reengineering of the enterprise’s basic accounting process.The control environment and key risk points of the enterprise have changed.The financial sharing model has saved the cost of the enterprise and improved the efficiency of the accounting.A new hidden danger,the traditional internal control risk point can no longer meet the new internal control environment and the new accounting process under the background of informationization.Therefore,in the new internal control environment,continuous risk control point optimization is needed to ensure Enterprise financial accounting runs in an orderly and efficient manner.This paper studies the operation mode of M Group’s Financial Sharing Service center.Firstly,it analyses the current business process operation of M Group from the business level,including the internal process design defects in the process of accounts receivable,customer credit rating,expense reimbursement and accounts payable;secondly,it analyses the whole process from the company level according to the five elements of internal control.Problems in the operation of internal control,such as imperfect organizational structure and high turnover rate of employees,are analyzed,and the causes of these internal control problems are analyzed.Based on the theory of Financial Sharing and internal control,business process operation optimization chart is drawn and internal control risk points are set up,such as receivables and bad debts cancellation links in the process of accounts receivable and the industry of sales department.It also explains the advantages and limitations of these risk control points,and gives some suggestions on the optimization of financial process reengineering from the overall level of the company,such as strengthening the awareness of internal control of the whole staff,strengthening the construction of employee loyalty,etc.The theory of process reengineering and five elements of internal control are used to improve the internal control process of M Group’s Financial Sharing model,and to solve the internal control problems of M Group under the financial sharing model.Based on the actual situation of M Group,this paper adopts case study method and flow chart analysis method to solve the internal control problem of M Group under the financial sharing mode,and proposes a highly operational plan from the business level,which is given from the company level.The overall optimization proposal has certain reference significance for the internal control of other similar enterprises to optimize the financial sharing mode.