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Author(s): |
Lin Chen, University of Jinan, Jinan, China, 250022
Guofeng Ni, Shandong Youth University of Political Science, Jinan, China, 250103 |
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Abstract: |
Enterprise internal control is due to the flaw of false accounting, business failure, to deceive the public the important factors. In 2002 July the United States Congress passed the Sarbanes-Oxley Act. The bill requires the management of listed companies must be on the company's internal control self-evaluation by the CPA published independent audit opinion, the company strengthen the construction of internal control and management has played a huge role in promoting. In 2004, COSO Commission issued a formal" Enterprise Risk Management-Integrated Framework", is undoubtedly the development of internal control theory the milepost. In 2008 June, the Ministry of finance, Auditing department, the SFC, the CIRC, China Banking Regulatory Commission jointly issued" the Basic Standard for Enterprise Internal Control", which for the standard the behavior of market main body choice, reducing the financial fraud, to establish a safe and orderly market order, sustained economic development provided important safeguard.
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