| In 2017,the new "Enterprise Risk Management-Strategy and Performance Integration Framework" was promulgated under the impetus of COSO(Sponsor Committee under the American Anti-Fraudulent Financial Reporting Committee),which more prominently guaranteed the overall value and strategic goals of the enterprise from the perspective of risk management,and more easily provided a new theoretical starting point for the top management of the enterprise.Internal control covers the whole process of enterprise management,and its importance is self-evident,so it should also be adjusted to meet the new requirements.In 2019,the CSRC announced the investigation results of financial fraud of Kangmei Pharmaceutical.This company,which was once called "white horse stock" in the pharmaceutical industry,made people stunned.At the same time,its share price plummeted and its good social image created after years of operation was greatly reduced.At this time,COSO-ERM(2017)has just been promulgated for two years.This case has made us more and more deeply aware of the importance of internal control for the company’s own production and operation.Therefore,it is of great significance to analyze the defects in Kangmei Pharmaceutical’s internal control system around this case,find out the reasons for the defects,and formulate internal control optimization strategies for Kangmei Pharmaceutical in combination with COSO-ERM(2017),so as to better realize its own value and improve its risk management level.Firstly,this paper introduces the research background and research framework.This paper sorts out some relevant literates,summarizes the research status of internal control at different stages at home and abroad,and summarizes the research of COSO-ERM at home and abroad.Then,the relationship between the 2013 version of internal control framework and the 2017 version of risk management framework is clarified by applying the theories learned.The case part of this article will start from the third chapter,by introducing the general situation of Kangmei Pharmaceutical and reviewing the matters concerned,and using the disclosure information collected to analyze the possible problems in the internal control of Kangmei Pharmaceutical.The fourth chapter will analyze the causes of internal control problems of COSO-ERM(2017)from five aspects.On the premise of applicability principle,combined with the actual situation of Kangmei Pharmaceutical,some effective suggestions for optimizing internal control are put forward.This paper holds that Kangmei Pharmaceutical has unreasonable aspects in governance structure,risk identification and control,strategic goal setting,information communication and reporting,and internal supervision,which eventually leads to the failure of internal control and the occurrence of financial fraud.China’s internal control system is more based on foreign experience,in order to make it play its due role,it must be combined with the actual situation.As one of the important industries in China,the pharmaceutical industry has a direct impact on social stability and people’s health.As an important part of the pharmaceutical industry,private pharmaceutical enterprises optimize their internal control system,which plays an important role in improving the quality of drugs and the happiness index of the people. |
