Research Report On Financial Compliance Innovation Of Mixed Ownership Enterprises

In order to build a world-class financial management system and effectively prevent all kinds of risks in enterprise operation and management,financial compliance construction has become a mandatory course for all mixed ownership enterprises in China.Financial compliance is the important work of legal compliance of enterprise operation activities,following the law of enterprise management,and preventing financial fraud,asset transfer and tax crimes and other fraudulent acts of enterprises.The financial compliance innovation of mixed ownership enterprises includes both financial compliance self-correction and passive correction based on public authority supervision,aiming to solve the problems of stagnant and conservative control of stateowned capital,insufficient implementation mechanism,supervision mechanism not meeting the requirements of full coverage,and lack of compliance corporate culture in prevention mechanism,etc.The level of financial compliance practice innovation of X Group is high,but there are still typical problems mentioned above.In order to solve these problems,the financial compliance practice of X Group is selected as the research object,and a typological comparative analysis is made with the financial fraud cases of X Group’s subsidiaries,Kangde Xin and other hybrid enterprises,as well as the financial compliance non-prosecution cases in different places to make a legal analysis of X Group’s financial compliance management practice.At the level of financial compliance rectification,the application mechanism and rule of law guarantee of compliance non-prosecution system,independent supervisor system and audit synergy mechanism are discussed.Financial compliance innovation is a common requirement for mixed ownership reform,implementation of "double-cycle" economic strategy,construction of compliance culture in mixed reform enterprises and development of innovative technology.In order to promote the financial compliance innovation of mixed reform enterprises,we should propose comprehensive solutions based on financial compliance management mechanism and compliance rectification system.On the one hand,regarding the financial compliance management mechanism,the hybrid enterprises should improve the implementation mechanism by establishing the audit committee system led by the shareholders’ meeting,multiple financial audit mechanism and forensic accounting support management mechanism;improving the implementation mechanism through the group financial strategy synergy,management demonstration and assessment and evaluation mechanism;strengthening the supervision mechanism by self-compliance rectification with high standards,establishing the intelligent enterprise compliance audit system and hiring independent supervisors from law firms;strengthening the supervision mechanism by fostering the integrity of the company’s financial compliance strategy and compliance culture.We will strengthen the supervision mechanism through self-improvement of financial compliance with high standards,establishment of an intelligent corporate compliance audit system and hiring of independent supervisors from law firms;and establishment of a risk prevention mechanism through cultivating a clean and compliant corporate culture under the rule of law.On the other hand,with regard to the financial compliance rectification system,the legislation on the compliance non-prosecution system should be promoted to solve practical difficulties by clarifying the operation mode of conditional non-prosecution,the applicable objects of unit crimes,expanding the scope of application to felonies,and the tiered financial compliance standards;by establishing the cost-sharing mechanism of multiple independent supervisors,supplementing the neutrality provisions of independent supervisors,and establishing the coordination mechanism between the disclosure of written supervisory reports and the protection of business information.We will also improve the independent regulator system with Chinese characteristics by establishing a cost-sharing mechanism for multiple independent regulators,additional independent regulator neutrality provisions,and a coordination mechanism for written regulatory report disclosure and business information protection;and establish a legal mechanism for audit coordination through a government audit-led project planning mechanism,an internal audit-led information sharing mechanism,and a social audit-led rectification and implementation mechanism.