Study On Internal Control Issues Of Y Pharmaceutical Company

The booming economic globalization and China’s growing comprehensive strength have brought huge dividends of the times and diversified development opportunities to the companies.However,at the same time,companies are also facing more complicated business management risks.In recent years,scandals such as the Huayuan Pharmaceuticals financial fraud have been inextricably linked to the company’s inadequate internal control system.As an indispensable sunrise industry in every country and every era,the pharmaceutical industry has always received great support and attention from the state.After the outbreak of the new crown epidemic in 2020,the pharmaceutical industry has played an irreplaceable role in society as a whole.The system of different companies and their internal systems will be adjusted and optimized to meet the needs of more diversified market and industry.The system and environment of different companies are different,so the internal control system should be set up with certain differences and specificity.Besides,the internal control system should be designed with the characteristics of the actual situation of the company,so as to meet the characteristics of the system and the requirements of internal control of different enterprises.Based on the internal control theory,this paper studies the current situation of internal control of Y Pharmaceutical Company by combining literature review,comparative analysis and case study,which consists of five aspects: internal environment,risk assessment,control activities,information and communication,and internal oversight.Furthermore,the reaearch tries to find out the problems in internal control of Y Pharmaceutical Company.Finally,the author proposes corresponding optimization solutions and countermeasures for the internal control management of Y Pharmaceutical Company,and provides some reference for decision making for the optimization of the company’s internal control system.Through the analysis of the case study,this paper concludes that the company should take the five elements of internal control as the entry point to solve the relevant problems and provide strategic support for the healthy and sustainable development of the pharmaceutical industry through the governance of internal environment,improvement of risk control system,control of control activities,establishment of information and communication system and sound internal supervision system.