The Model Design of Coal Enterprises Internal Control Auditing Based on Risk Management
The coal is the mainly energy resources of China, and the coal industry enjoying a leading position in national economy. Low-carbon, environmental protection and energy saving bring great challenge to coal enterprises. Therefore, building the internal con
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The Model Design of Coal Enterprises Internal Control Auditing Based on Risk Management Su-li Hao and Ling-ling Song
Abstract The coal is the mainly energy resources of China, and the coal industry enjoying a leading position in national economy. Low-carbon, environmental protection and energy saving bring great challenge to coal enterprises. Therefore, building the internal control system has become the important management measure for coal enterprises. The internal control auditing is the important pathway to ensure the internal control effectively been implemented, and it is important to control the enterprises risk. The paper design indicator system of internal control, and establish the risk-oriented internal control auditing model. The research result could provide reference to coal enterprises implement internal control auditing. Keywords Coal enterprises • Risk-oriented • Internal control auditing • Audit indicator
Introduction The internal control auditing is developing with the development of internal control. Early in 1934, the United States Securities Exchange Act required that public companies must include a management reporting of internal control about financial reporting in its annual report; In 1992, “Internal Control – Integrated Framework” (also known as the COSO Report) commissioned by the Committee on Sponsoring Organizations of Fraudulent Financial Reporting (COSO), was then recognized by the Audit Commission in the United States (COSO 2009). On July 25 2002, the U.S. Congress passed the Sarbanes – Oxley Act, and In March 2004 Auditing Standards No. 2 file (referred to as AS2) about the company’s internal
S.-l. Hao (*) • L.-l. Song School of Management, China University of Mining and Technology (Beijing), Beijing, P.R. China e-mail: [email protected]; [email protected] R. Dou (ed.), Proceedings of 2012 3rd International Asia Conference on Industrial Engineering and Management Innovation(IEMI2012), DOI 10.1007/978-3-642-33012-4_55, # Springer-Verlag Berlin Heidelberg 2013
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financial auditing and financial report auditing released by the U.S. Public Company Accounting Oversight Board. In 2007, the U.S. Public Company Accounting Oversight Board (PCAOB) released Auditing Standards No. 5 (AS5) to replace the AS2, the standards gave particular emphasis to the impact of enterprise-level control on the reliability of company financial information. The research of internal control auditing is later in China. The first administrative norm on internal control and audit risk “Specific Independent Auditing Standard No. 9” been issued by the Ministry of Finance in 1996. In 2001, the Ministry of Finance promulgated the “Internal Accounting Control Standards – Basic Standards (Trial Implementation)” and 17 specific normative contents. In February 2002, the People’s Bank of China promulgated the “Internal Control of Commercial Banks Guidelines (draft)”; In May 2003, the State Council issued the “Interim Regulations on Supervision and Management of State-owned Assets of Ent
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