The Application Research Of Internal Control Of Y Insurance Company Branch Capital Management

In recent years,with the rapid development of China's economy,the insurance industry has also entered the fast lane of development.However,during the rapid development of the insurance industry,due to irregular funds management and rigorous internal controls,the financial data and information falsification phenomenon frequently occurred.In 2017,the penalty imposed by Henan Insurance Regulatory Commission,33%were punished due to fictitious financial expenses and materials,25%were penalized for taking advantage of positions by other institutions or individuals,and 14%were penalized for fictitious intermediary business fees.In order to strengthen the internal control over the capital management of the insurance industry,the CIRC issued the "Insurance Fund Use Internal Control" in 2016 on the basis of the "Basic Regulations for the Internal Control of Insurance Companies" in the year of 2010 to provide guidelines for the insurance companies to strengthen the internal control of capital management.The insurance company were asked to develop the internal control system for fund management based on its own operating characteristics and the risk level of its capital management.The rational use of funds,the strengthening of the management and control of capital flows and capital circulation,and the prevention of capital risks are the main objectives of internal control of capital management.This article first summarizes relevant theories and research results of internal control of capital management in academic circles both at home and abroad.Then according to China's insurance industry's relevant policy regulations for fund management,the Henan Branch of Sunshine Insurance is the object of research and operates.Based on the five elements of internal control,the current situation of the internal control of funds management of Sunshine Insurance Henan Branch was analyzed from the aspects of control environment,risk identification and assessment,control activities,information and communication,and internal supervision.Existing problems,such as results-oriented performance assessment systems which lead to a lack of internal control awareness among employees,lack of dynamic risk assessment mechanisms,insufficiency of business operation processes,lack of initiative and sharing of information communication,and internal supervision needs to be strengthened.