Research On The Construction And Operation Of Internal Control Of Company Z Financial Report

Fortune World announced Top 500 Rankings-the most famous and definitive "Ultimate List" of Companies in the World On July 20,2017.In this rankings,115 China companies are posted,accounting for 23%,reaching the most in history.In this context,the changes in domestic and foreign political and economic markets will all have a greater impact on the Chinese enterprises.Therefore,more measures and more scientifically and effectively method need to be taken to meet the risks that these changes may bring.Enterprise must establish a strong and steady "flood control dam"-the internal control system of financial reports.Practice has proved that a good internal control system can detect fraud in a timely manner,so as to effectively reduce the negative impact brought by faults in financial reporting.A good internal control system can also avoid making wrong business decisions that pose major risks to the company.The internal control system is one of the most important prerequisites for a company that can grow continuously and sustainably.However,contrary to the current situation of high demand for internal control of financial statements,the internal control system of financial reports in our country has been introduced for a short period of time,and its risk awareness and coping ability are relatively weak.Therefore,it is imperative to establish a more perfect internal control system for financial reports.The study is based on the most commonly applied internal control framework in the world and guided by the "Basic Norms of Internal Control of Enterprises" and "Guidelines for Internal Control of Enterprises" in our country.This article takes Z Company,a large-scale enterprise,as the research object.Through the method of case analysis,the paper analyzes the perfection of the internal control system of the financial report of the enterprise,puts forward the optimization suggestion on the internal control of the financial report,raising the anti-risk level,operation and management level and financial reporting reliability of the Company.This paper contains five parts:The first chapter is introduction part.It puts forward the questions to be studied in this article,introduced the research background,significance,research status at home and abroad,the framework of ideas and research methods.The second chapter,the definition of the article as well as the relevant theoretical basis of the study.It mainly includes the concept of internal control of financial report,the target and the process of constructing financial report internal control.The third chapter introduces the status quo of Z Company's internal control of financial report in detail,and analyzes the problems existing in the internal control of Z Company's financial report from five aspects of internal control.In the fourth chapter,taking Z company as an example,from the five elements of internal control,it describes in detail how Z company,a large enterprise,can perfect the internal control system of financial reporting and how to balance the various aspects.The fifth chapter,conclusion part.Through case studies,this chapter presents the findings and suggestions.The main contribution of this paper is to enrich the research on how to establish an effective internal control system of financial reports from the perspective of business managers and how to make similar large enterprises in China more effective in meeting the needs of external market and internal managers.It has provided some reference to implement the internal control of financial reports,balance the relationships among all parties,establish and improve the internal control system of financial statements.