Research On Internal Control Of Financial Shared Service Center

Since twenty-first century,the global economic integration has developed,and the market competition is becoming more and more intense.Financial Shared Service Center is a new type of financial management mode with the rise of economic development and distributed establishment of a company,can effectively reduce unnecessary costs,improve work efficiency,which is a transformation and progress of modem financial management in the process and it is highly valued by many multinational and trans regional large group companies.In order to conscientiously implement the cost leadership strategy and the needs of the international market,Zte Corp formally established the Financial Sharing Service Center in 2005.This paper takes ZTE FSSC as the research object,and carries on case analysis and exploration,conducts in-depth research on the internal control of the Financial Shared Service Center,and concretely solves the internal control problem of the Financial Shared Service Center.This paper adopts a combination of research methods,case studies and comprehensive analysis to study the internal control of ZTE's Financial Shared Service Center based on the review of related researches at home and abroad and summarizes the theoretical basis and development status of internal control,shared services and Financial Shared Service Center.Through the analysis of the situation and internal control of ZTE FSSC,It is found that the implementation of the Financial Sharing Service Center has indeed saved the cost of manpower.But at the same time,new standards and requirements are put forward for risk monitoring,risk assessment and risk control of internal control.Risk of process transformation,risk of personnel structure change and risk of separation between business and finance are also followed.For the specific problems found in the research,this paper carried out a detailed analysis combined with domestic and foreign advanced management experience,starting from the elements of internal control,from five aspects,some suggestions for the internal control of ZTE FSSC are put forward,to improve the internal control system and realize the goal of corporate finance.At the same time,to a certain extent,it can provide theoretical support and method guidance for the domestic financial sharing service center to improve the awareness of risk management and implement internal control.