Research On The Construction Of Z Company Financial Sharing Center Based On Internal Control

With the deepening of economic globalization and integration,the development of enterprise groups and transnational corporations has extended to all parts of the world.At the same time of realizing scale effect and group effect,enterprises are also facing the predicament of management reform and financial transformation and upgrading.Shared services play a vital role in promoting the management transformation and financial transformation of large enterprises.In this case,Z Company is a large-scale chain enterprise,in order to meet their own development needs to establish a Financial Sharing Service Center,by integrating the financial operations of subsidiaries in the group,with the help of financial process reengineering,the centralized management of the whole group's financial business can be realized,while improving the operating efficiency of the group,it also reduces the cost and risk of the enterprise.This article takes the Z company Financial Shared Service Center as an example,using literature research and case study methods,based on the analysis of its construction goals and processes,the implementation effect of Z company financial sharing center is analyzed from the perspective of internal control,trying to find out the problems still existing in Z company Financial Sharing Center and make relevant suggestions.Firstly,this paper summarizes and analyzes the related theories of internal control and financial sharing,then introduce in detail the background and industry status of Z company,as well as the problems encountered in the development process,and introduce the construction process of the financial sharing center in detail;then from the perspective of five elements of internal control,that is,control environment,risk assessment,financial process,information system platform construction,internal supervision,evaluate the implementation effect of Z company to establish financial sharing center,it is found that Z company has brought benefits such as cost savings,efficiency improvement,and organizational structure optimization,as well as personnel structure changes,information platform construction problems,and new internal control risks.Based on this,combined with the construction experience of other large enterprise financial sharing centers in China,this paper attempts to use internal control management methods to solve these problems and propose optimization suggestions,such as improving organizational structure,strengthening personnel construction,optimizing business processes,improving internal control and management system,aiming at improving the Financial Sharing Center Service Construction of Z company;Finally,the article is summarized and prospected.Through this study,we hope to provide reference and guidance for other large enterprises that have established or will establish financial sharing service center,and also provide reference for more scholars in the process of exploring the development path of financial sharing service suitable for China's national conditions in the future.