Research On Optimization Of Z Company Internal Control System Based On COSO-ERM Framework

With the complex changes in the external environment and internal operating levels of the industry,the risks faced by enterprises in development have also become more complex,especially external market risks and internal financial risks.These risks are closely related to the operation of the enterprise and place high demands on internal management.Effective internal control and improvement in the overall level of risk management are imminent.In order to achieve the strategic goals of an enterprise,it is very necessary to improve the enterprise’s existing internal control framework.Therefore,from the perspective of risk management,it is necessary to combine internal control and risk management to establish a long-term internal control mechanism.Based on this,in 2017,the COSO Committee refined the2004 ERM framework and formed a new “ Enterprise Risk Management-Strategy and Performance Integration Framework”,that is,the “COSO-ERM Framework”.The 5 elements and 20 principles are clearly distinguished from the previous internal control framework and are more closely integrated with the actual enterprise.Therefore,this paper uses the COSO-ERM framework introduced in 2017 for case analysis.The implementation of the COSO-ERM framework is of great significance in studying enterprise internal control,strengthening corporate governance,and achieving enterprise strategic goals.At the same time,in 2017,China clarified the concept of“full-process engineering consulting” for the first time.This is also the development direction of the country to improve the project construction organization model.In the context of the country’s policy of vigorously implementing the full-process engineering consulting model,various regions have introduced policies to promote full-process engineering consulting services.However,since the industry is still in the exploratory stage of developing the whole process of consulting services,the increase of the main body participating in the market competition makes the competition increasingly fierce.Therefore,through the method of literature research and case analysis,this paper uses Company Z,a leading enterprise in engineering consulting services in Province F,as the research subject.Through the perspective of the COSO-ERM framework,the theory of internal control and COSO-ERM framework is first sorted out,combining Company overall,business,strategy,information system elements,the current situation of Company Z and the shortcomings in internal control work,and finally derives an overall optimization plan for its internal control system based on the company’s actual situation and COSO-ERM framework,and finally achieves the ultimate goal of optimizing internal control,so that Company Z can build on its own advantages,seize the opportunities of the times,and satisfy the long-term While achieving stable and efficient strategic goals,it is hoped that Company Z can be used as an example to contribute to the internal control construction work of Chinese enterprises.