Research On Internal Control Of ZONECO Based On ERM New Framework

At present,the economic environment is constantly changing,the risks faced by enterprises are becoming more and more complex,and stakeholders begin to pay more attention to risk management.In 2017,COSO committee(The Committee of Sponsoring Organizations of the Treadway Commission)released enterprise risk management-integration framework with strategy and performance(hereinafter referred to as ERM new framework),which provides a new way for enterprise risk management.Internal control is an indispensable part of enterprise risk management,which should be changed in the new situation.Based on this,this paper studies the internal control with typical cases,hoping to put forward relevant optimization suggestions to help enterprises optimize the internal control system.This paper studies the internal control status of ZONECO from the perspective of risk management.First of all,this paper summarizes and collates the relevant literature,grasps the research status of internal control and comprehensive risk management at home and abroad,and summarizes the research related to internal control of ZONECO and the classic research of ERM new framework.Then,the paper introduces the process of ZONECO and ZONECO event,and analyzes the defects in the internal control system of ZONECO company from the five elements of governance and culture,strategy and goal formulation,performance,evaluation and revision,information communication and reporting,using ERM new framework as the research tool.According to the specific situation of ZONECO,this paper puts forward some suggestions on the internal control of ZONECO from the perspective of risk management.It is hoped that the case study can help ZONECO to establish an effective internal control system and provide experience and reference for listed companies.The final conclusion of this paper is that ZONECO needs to optimize its internal control system according to local conditions on the basis of reference and innovation of ERM new framework.In terms of governance and culture,strengthen the monitoring of the board of directors on the implementation of corporate strategy and risk management;consider the corporate culture according to the company's own characteristics,promote the integration of risk management awareness and corporate culture;attract and cultivate excellent talents.In terms of strategy and goal setting,ZONECO can use the risk profile map to formulate appropriate strategic goals.In terms of performance,identify and analyze the risks and take appropriate countermeasures.In terms of evaluation and revision,ZONECO can better achieve its objectives by locating risk performance deviation and finding substantial changes.In terms of information communication and reporting,we should consciously and correctly disclose internal control information;through the establishment of enterprise risk management information database,we can analyze and process the data,which is more conducive to the effective implementation of risk management.