Research On Internal Control Of Purchasing And Payment Of ZY Electronics Co.,Ltd

In recent years,the process of global economic development has gradually accelerated,and a large number of emerging enterprises have risen rapidly.However,in the market competition,the old and new enterprises only pursue economic interests blindly,but neglect to strengthen the management of internal control.This situation has laid many hidden dangers for the sustainable development of enterprises.The following is a series of financial fraud cases,the main reason can be attributed to internal control problems.Malignant cases caused by problems in procurement and payment links in Chinese enterprises are also emerging in endlessly.The internal control of purchasing and payment links is an important part of enterprise internal control.Establishing and improving the internal control of purchasing and payment links can effectively reduce enterprise costs,prevent procurement risks and ensure the normal operation of enterprise production and operation activities.The structure of this study is as follows: Firstly,it combs the relevant theories of internal control of procurement and payment,including corporate governance structure,principal-agent,internal control and comprehensive risk management theory.At the same time,it introduces the concepts related to the internal control of purchasing and payment.Secondly,by means of inspection,on-the-spot inspection and inquiry,it understands the management system of purchasing and payment links of ZY Electronics Co.,Ltd.and systematically summarizes its problems,including:budget management is formalized,material purchasing applications are not standardized,supplier selection management is inappropriate,procurement contract management is confused,and so on.Material storage management is defective and payment management is not standardized.The causes of these problems are analyzed from the following aspects: weak awareness of internal control,unreasonable organizational structure,insufficient execution of internal control and insufficient risk prevention mechanism.Finally,aiming at these problems,this paper puts forward corresponding suggestions from two aspects: the control activities of procurement andpayment links and the improvement of supporting facilities related to procurement and payment links.Specific measures include: strengthening the role of budget management,standardizing material requisition process,optimizing supplier management,standardizing contract management process,strengthening material storage management,standardizing payment business process;specific measures to improve the supporting facilities related to procurement and payment links include:strengthening internal control awareness,improving company organizational structure,establishing risk management system,and adding Strong information communication mechanism construction.Based on the analysis of theory and case,this paper draws the following conclusions:(1)The electronic industry should recognize the importance of internal control in enterprise management and strengthen the construction of internal control in procurement and payment links;(2)While improving procurement and payment control activities,it is necessary to establish a special procurement and payment risk management team;(3)When designing the supplier performance evaluation system,it is necessary to take the life cycle of the enterprise into account.